The 1696-tonne vessel has just returned to Port Taranaki after completing a five-day, 400km 2D survey in licence PEP 38472 for operator OMV Petroleum and New Zealand Oil and Gas.

The vessel is shortly due to leave New Plymouth's port to start a 1600km program over the two new licences, PEP 38481 and 482, that OMV, along with Shell and its long-time partner Todd Energy, were awarded last August.

NZOG exploration manager Eric Matthews told EnergyReview.Net that the PEP 38472 survey had been over the Ray lead, which had the potential to be a very large play, possibly containing up to 500 million barrels of oil.

Further delineation of the area, including processing and interpretation of the newly acquired seismic, could lead to a wildcat well being drilled within the next two years.

The Polar Duke is to shoot 400km of seismic over PEP 38481 and 1200km of seismic in PEP 38482. Shell Todd Oil Services is acting as operator of both permits and has contracted the Multiwave Geophysical Company do shoot the seismic.

Shell, Todd and OMV hope the survey and Polar Duke, which has previously shot seismic over the nearby Maari licence, will reveal several plays or leads worth drilling. The permits are northwest of the faltering Maui field, but on the edge of the very promising looking deepwater part of the Taranaki Basin.