NZOG spuds in at Oi, seeking extended life for Tui

Mon, 02 Jun 2014

By Pattrick Smellie June 3 (BusinessDesk) - New Zealand Oil & Gas has started drilling in the Oi prospect in its latest play to extend the life of offshore infrastructure that is servicing the declining Tui oil field. Situated to the north of Tui in a different geological structure, the Oi prospect has "sufficient estimated potential size to contain commercial amounts of hydrocarbons", with the main uncertainty being whether Kapuni F10 reservoir sands are present. "NZOG considers the well has a 17 percent geological chance of success,...

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