OMV had steadily built its E&P portfolio in the country and was now a major player – being the major partner in and operator of the offshore Taranaki Maari oil field, while holding a major stake in the near-shore Taranaki Pohokura gas-condensate field, and a minor Maui stake, together with several offshore Northland and Canterbury exploration permits.
“We want to have more exploration successes, more acquisitions, the successful development of Pohokura and Maari, and the future development of Maui,” Hounsell said.
First gas from Pohokura was scheduled by the third quarter of this year, while first oil from Maari was scheduled mid to late 2008.
OMV’s present liquids production, from just Maui, was about 5 million barrels of oil equivalent (boe), but this would rise to about 14,000 boe next year with Pohokura onstream. Then projected liquids production for OMV would rise to 29,000 boe in 2008 and 32,000 boe in 2009, with Maari.
OMV holds 10% of Maui, 26% of Pohokura, 69% of Maari and various interests in its offshore Northland and Canterbury licences.
Hounsell also released more details on the scheduled $US360 million Maari development, south of the Maui, saying OMV and its partners (Todd Energy, Horizon and Cue Energy) had to overcome several difficulties to proceed with development of the field.
There would have to be heating downhole, on the wellhead platform, plus on the FPSO, to successfully transport Maari’s waxy (18%) crude. There would also have to be water injection to above fracture pressure.
The Ensco jack-up Rig 107 would drill five production wells, and three water injection wells, while cantilevered over the installation platform, for about eight months from late 2007. All major development contracts were due to finalised later this quarter, according to Hounsell.
“Maari should be quite an exciting time for us,” he said.
Meanwhile, the Maui partners – Shell NZ, Todd Energy and OMV – were conducting studies regarding accessing further accumulations within the field. This was in addition to the two deviated Ihi wells presently being drilled from the Maui A platform.
“We expect Maui to be producing for quite some time, perhaps to 2010 or 2011,” he said.
