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OMV JV shooting more 2D seismic in Great South Basin
3 February 2010 - The OMV-led Great South Basin joint venture has begun a second round of seismic data acquisition of smaller focused areas of interest revealed by the larger 2007-08 seismic survey in three permits south of Southland and Otago.
Sources: OMV New Zealand and Lindsay Clark
Operator OMV New Zealand Ltd said the joint venture with Thai company PTTEP New Zealand Ltd and Japan-based Mitsui E&P Australia Pty Ltd, began a second seismic survey on 10 January to acquire around 2,600 km of 2D data in the permits in the offshore basin.
The survey is being carried out by Singapore-based seismic company Reflect Geophysical using the Bergen Resolution vessel. The ship will be accompanied by a New Zealand-based chase vessel, the Ocean Pioneer.
The survey programme is expected to last approximately 4 weeks, subject to weather conditions.
The 2007-08 survey carried out by the Great South Basin partners was the largest seismic survey ever undertaken in New Zealand waters – nearly 16,000 km of 2D seismic covering an area of around 48,000 sq km (about 40% of the size of the North Island).
OMV said that the earlier seismic data had now been processed and interpretation is well advanced.
The interpretation work has highlighted areas that justify a denser seismic grid pattern for further advanced analysis. This will further improve forward planning, OMV said.
The company also confirmed that it had sought and been granted a one year extension to the drilling decision in its Great South Basin permits.
The work programme for the three exploration permits - PEP 50119, 50120 and 50121 - required a decision on whether it would drill exploration wells within three years. The deadline has now been extended to 10 July 2011.
If the decision is made to drill, then drilling would occur within the following year. A total of five wells would be drilled should the decision be made to go ahead in all three permits.
OMV said the drilling decision will depend on the results of ongoing evaluation of seismic and other geological data.
OMV holds 36% of the joint venture, PTTEP 36% and Mitsui 28%.
OMV's New Zealand has 59 employees in Wellington and the Maari project team in New Plymouth.
Related links
Great South basin - 2010 NZ petroleum conference - Current petroleum block offers
