Greymouth has completed site preparations for the wildcat well in PEP 38739, though it has yet to contract a drilling company or rig for Tiwakawaka-1, which is due to spud later this month.
“This is a large permit area with only one well drilled to date by Shell, BP Todd Oil Services in 1964, which was called Kiore-1. Drilling of this new Greymouth well is expected to take several months as a result of logistical constraints and the rugged and remote wellsite area,” chief operating officer John Sturgess told EnergyReview.Net.
Tiwakawaka was identified as a result of last year’s seismic acquisition program over part of the large 956 sqkm permit.
“This well is termed a wildcat well for good reason as the region is lightly explored and hence formations and target depths cannot be predicted with any accuracy and the wellsite is miles away from any producing fields,” Sturgess added.
However, commentators say Greymouth may be targeting shallow trapped pockets of hydrocarbons, “leakage” from existing fields, as most of PEP 38739 lies to the east of the Taranaki Fault with no source rock underneath.
