Evaluation of seismic data from three southern oil and gas prospects to the north and south of Dunedin is now fully under way.
Listed New Zealand Oil & Gas (NZOG) has just completed shipborne 3 D seismic data collection from the Toroa prospect, well south of Dunedin, deep in the Great South Basin.
In its quarterly activities report yesterday, NZOG said about 1100sq km was surveyed around the Toroa prospect, of which Woodside Energy (NZ) has a 70% share and is the operator, while NZOG has a 30% share.
''Acquisition was completed without incident shortly before publication [of yesterday's quarterly activities report],'' the company said.
Surveying had earlier been completed on the Clipper prospect, owned 50% each by NZOGand Beach Energy, east of Oamaru, and the Galleon prospect (100% NZOG), northeast of Dunedin.
Each of the three prospects had 3 D data collected, which can take 12 to 18 months to evaluate. Evaluation is expected to be complete by the end of 2015 at Clipper, while at Galleon, a decision is due in the same period on whether to go ahead with more seismic data.
Joint venture partners Shell and OMV have yet to confirm they may be drilling in the Great South Basin by the end of the year, having completed their own seismic surveys recently.
NZOG's 15% share in the revenue from the joint venture Kupe oil and gas field, in Taranaki, generated $15.9 million revenue for the quarter.
While Tui produced 185,444 barrels of oil/gas, there were no tanker shipments, meaning no revenue was booked. Tui's production was boosted from oil from the Pateke 4H well within the Tui area.
