Origin Energy Resources (Kupe) Limited, on behalf of the Kupe Joint Venture, has announced an updated schedule whereby it expects to bring the first raw gas from the Kupe field ashore, effectively commencing production, in the Fourth Quarter Calendar Year 2009.
Origin’s Executive General Manager, Major Development Projects, Mr Andrew Stock, said, “Construction of the offshore facilities wells, wellhead platform, pipeline and controls umbilical is complete, and the overall project including the Production Station near Hawera is nearing completion with testing and pre-commissioning occurring later than planned.
"Capital costs for the Kupe project remain in line with previous expectations."
"Some of the facilities are already active as part of the current pre-commissioning and the balance of facilities are being progressively readied and commissioned during coming months."
"The Kupe Gas project will make a significant contribution to securing New Zealand’s gas supply needs during the next 15-20 years."
"Kupe will meet approximately 15 per cent of New Zealand’s current annual gas demand and 50 per cent of New Zealand’s LPG demand. The project will provide in the order of 254 petajoules of natural gas, as well as 1.1 million tonnes of LPG and 14.7 million barrels of condensate."
"New Zealand and Taranaki are delivering a world class project that will provide an enduring benefit for the region," Mr Stock said.
Kupe Gas Project participants are:
Origin Energy Resources (Kupe) Limited* 50 per cent (Operator)
Genesis Energy 31 per cent
New Zealand Oil & Gas Limited 15 per cent
Mitsui E&P Australia Pty Ltd 4 per cent