Pohokura oil reserves rise to 61mmbbls, gas to 980 bcf

The new figures, which also show that Pohokura’s total gas reserves have also grown by 24% to almost one trillion cubic feet, are published in the Ministry of Economic Development’s latest Energy Data File.

The statistics as at 1 January 2008 are collected by the Ministry from permit operators.
The Pohokura field, which is operated by Shell with partners OMV and Todd Energy, did not complete drilling the offshore section of the field until the beginning of June 2008.

The Energy Data File says that Pohokura ultimate recoverable condensate reserves increased from 44 mmbbls in the beginning of 2007 year to 61.6 mmbbls at the start of this year.

This means that Pohokura over its lifetime will yield more oil in the form of condensate than crude oil from either the Tui field which recently revised its total reserves up to 50.1 mmbbls, or the Maari field now being developed which has a current reserves estimate of 49 mmbbls.

Production of condensate at Pohokura rose to 4.7 mmbbls in the latest year from 900,000 barrels in 2007 when only three onshore wells were operating for part of the year.

Gas reserves at Pohokura increased to 978 bcf at the start of 2008 from 791 bcf listed as reserves a year earlier.

Total remaining gas reserves in New Zealand increased 17% to 2,413 bcf at the start of 2008 from 2,061 bcf a year earlier. These figures include upgraded reserves in producing fields as well as estimates from fields still to come into production.

Coal seam gas has been included in gas reserve estimates for the first time in 2008. The MacDonald coal seam gas field being developed near Greymouth has been listed with estimated reserves of 171 bcf — accounting for almost half of the increased gas reserves from 2007.

Total remaining oil reserves in New Zealand increased 12% to 217 mmbbls in 2008 from 193 mmbbls in 2007.