Offshore Release Area 13TAR-R1 covers a large portion of the currently producing Taranaki Basin (24,224.2 km2). Little exploration has been carried out beyond the shelf edge, offering opportunities to test existing and new play concepts.
The three Onshore Blocks total 242.1 km2 and are all adjacent to existing discoveries or producing fields.
Modelling of source rocks in the shelf and onshore parts of the basin suggests that about 1,600 billion bbl of oil and 2,400 tcf of gas have been expelled by Cretaceous to Eocene source rocks. The majority of Taranaki oil, primarily waxy crude of about 45° API, has been geochemically typed to Late Cretaceous to Paleogene coaly source rocks.
Paralic facies accumulated on a broad, landward-migrating shelf and coastal plain, where extensive coal swamps developed. Rapid Neogene burial has brought these rocks to depths where they are mature and expelling both oil and gas today. In the deep water province, much of the Rakopi Formation remains at, or just above, the present oil expulsion window.
The Taranaki Basin has producing reservoirs of Paleocene to Pliocene ages. Although there are no producing reservoirs of Cretaceous age, they remain prospective in parts of the basin. Gas-condensate and oil are found in Paleogene reservoirs, whereas Neogene reservoirs mainly trap oil. Stacked reservoirs are common in the Maui, Kapuni and Rimu/Kauri fields.