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Kupe field produces over 4 PJ of gas in its first quarter
7 May 2010 - The Kupe gas and oil field in its first full three months of operation to March 31 produced 4.47 petajoules of sales though it was not until 22 March that Kupe completed its extensive commissioning programme.
Sources: Origin Energy, NZOG and Lindsay Clark
The $NZ1.3 billion field, which first began production in mid December 2009, also produced 496,000 barrels of light oil and 12,220 tonnes of LPG in the March quarter.
Over the life of the project Kupe is expected to provide approximately 254 PJ of natural gas, 14.7 million barrels of light crude and 1.1 million tonnes of LPG.
The long-term gas supply arrangements with Genesis Energy took effect from 22 March, the same day as the commissioning was completed. The field was officially opened by Prime Minister John Key on 18 March.
Kupe operator, Origin Energy said three tanker liftings of Kupe light crude were completed from Port Taranaki during the quarter.
Origin also said that a review of the exploration and appraisal potential of the Kupe permit, PML 38416, is being undertaken.
One of the minority Kupe partners, New Zealand Oil & Gas Ltd, said that the new gas-condensate field is having a positive impact on NZOG’s financial health.
NZOG revenue from Kupe sales gas, light oil and LPG was $13.16 million for the March quarter, while revenue from its share of the Tui oil field was $17.06 million.
