OPERATIONS

Small fish taste sweet for NGC

Evidence of the shortage of gas in NZ is mounting with the sale of gas to Natural Gas Corporation (NGC) from the small Surrey field in Taranaki, operated by Westech Energy.

NGC announced it would be buying at least a petajoule over two years from the field, which is southeast of Inglewood.

Since the Maui redetermination report earlier this year, both small explorers and gas traders companies, particularly NGC, have been trying to stitch together small field gas sales contracts, which previously would have been ignored for larger gas contracts.

Just recently NGC concluded a deal with Indo-Pacific Energy for the forward purchase of gas yet to be discovered by Indo-Pacific and its onshore Taranaki partners.

The Surrey field was discovered last year, with production currently from one well. Additional development wells will be drilled over the next 12 months.

The surface production facilities, including a one km gas export pipeline, will interconnect with NGC's gas pipeline system. Gas deliveries are expected to commence next week and will ultimately be processed through NGC's gas treatment plant at Kapuni.

TOPICS:

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

editions

ENB CCS Report 2024

ENB’s CCS Report 2024 finds that CCS could be the much-needed magic bullet for Australia’s decarbonisation drive

editions

ENB Cost Report 2023

ENB’s latest Cost Report findings provide optimism as investments in oil and gas, as well as new energy rise.

editions

ENB Future of Energy Report 2023

ENB’s inaugural Future of Energy Report details the industry outlook on the medium-to-long-term future for the sector in the Asia Pacific region.

editions

ENB Cost Report 2021

This industry-wide report aims to understand current cost levels across the energy industry