The OD & E Rig 19 started drilling the shallow well – to test the hydrocarbon-bearing potential of the Micoene-aged Urenui, Mount Messenger and Moki formations – over the weekend.
Auckland-headquartered Greymouth, which holds 100% equity in the licence, said the Korito well site was just west of the Kaimiro field and production facilities weere close to main gas transmission pipelines.
The target depth for Korito-1 would be about 2500m and would take several weeks to reach, the company said.
Korito-1 is the second well drilled by Greymouth this year after it earlier drilled and completed the Turangi-1 well in PEP 38762.
It is believed to have struck hydrocarbons with that well, its first deep-gas well in onshore Taranaki. But company chairman Mark Dunphy has declined to comment on what was found in the targeted Eocene-aged Mangahewa and Kaimiro formations, as well as the company’s plans for the well.
