Origin Energy Limited, on behalf of the Kupe Joint Venture, advises that the drilling and testing of the 3 Kupe Development Wells in permit PML 38146 (offshore Taranaki Basin, New Zealand) have been successfully completed and the wells have been safely suspended pending the start-up of the Kupe Gas Project by the middle of 2009.
The ENSCO 107 has now been secured for moving to the Momoho exploration well location and, as of 12pm EST on 4 June, she is waiting on an available weather window.
Preliminary analysis of the well results and, in particular, the well testing, confirms that the wells and the reservoir have met expectations.
Participants in the Kupe Gas Project are:
| Origin Energy Resources (Kupe) Limited* (Operator) |
50% |
| Wholly owned subsidiaries of Genesis Energy |
31% |
New Zealand Oil & Gas Limited (through its subsidiaries:
| National Petroleum Ltd. 12.75%, Petroleum Equities Ltd. 1.25% and Nephrite Enterprises Ltd. 1.00% |
15% |
| Mitsui E&P Australia Pty Ltd |
4% |
*a wholly owned subsidiary of Origin Energy Limited
