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Austral awarded sourthernmost offshore Taranaki Basin permit
30 March 2007 - Wellington-based Austral Pacific Energy Ltd has been awarded the sourthern Taranaki Basin.
The permit PEP 38524 is located immediately west and north of D'Urville Island and covers an area of 2187 square kilometres. Austral Pacific holds a 100% interest in PEP 38524 and is the operator.
The work programme requires Austral Pacific to reprocess and interpret existing seismic data a minimum of 250 km of aeromagnetic data and completion of either 200 km of 2D seismic data or 75 sq km of 3D seismic sata in the first year.
An exploration well is also required within three years.
Only one well has been previously drilled within the permit area: Surville-1 drilled in 1976 by NZ Aquitaine Petroleum near the western edge of the current permit.
PEP 38524 is Austral Energy's only offshore permit, having recently relinquished its offshore Canterbury permit.
Source: Austral Energy.
The work programme requires Austral Pacific to reprocess and interpret existing seismic data a minimum of 250 km of aeromagnetic data and completion of either 200 km of 2D seismic data or 75 sq km of 3D seismic sata in the first year.
An exploration well is also required within three years.
Only one well has been previously drilled within the permit area: Surville-1 drilled in 1976 by NZ Aquitaine Petroleum near the western edge of the current permit.
PEP 38524 is Austral Energy's only offshore permit, having recently relinquished its offshore Canterbury permit.
Source: Austral Energy.
