JV partner Beach Energy has provided an update on the Tawhaki-1 exploration well in the Great South Basin, offshore New Zealand.
On 19 February, OMV as operator of the Tawhaki-1 exploration well, advised that the well, being drilled by the COSL Prospector rig, had reached target depth of 2980 m MD. Data obtained during the drilling phase indicated no hydrocarbons were present in the target reservoir. Therefore, a decision has been taken to plug and abandon the well.
On 19 December 2019, Beach announced it had acquired a 30% interest in exploration permit PEP50119 (OMV 52.93% and operator, Beach 30%, Mitsui E&P Australia 17.07%) in the Great South Basin, offshore New Zealand, which contained the undrilled Tawhaki exploration prospect.
The PEP50119 exploration permit contains the large Tawhaki prospect and other leads. Tawhaki is a basement drape structural trap with up to 470 km2 under structural closure. The prospect is defined by modern, high-quality 3D seismic data and interpreted to have Cretaceous reservoirs of similar age and quality to the excellent sandstones encountered in Caravel-1, approx. 130 km to the north in PEP38264 (Beach 37.5% and operator).
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Source: Beach Energy