This was the final report to come from a technical advisor appointed to investigate how to improve field performance, when it became apparent the project was failing to live up to expectations after coming online in October.

Puffin had originally been forecast to come online at 30,000 barrels of oil per day but has instead delivered just 6000-10,000bopd.

On Friday, the Melbourne-based company published extracts from the third report.

"Improved drilling and completion design are feasible and readily achievable to ensure better long term productivity for future Puffin North East wells," the report stated.

"These improved drilling, completion and clean-up practices should ensure avoidance of the localised well production problems encountered by Puffin-7."

The previous report found there was a good chance remediation work would boost oil production at Puffin-7 to two to three times current levels.

"The company believes a remediation program could be implemented on a cost-effective basis within an eight week time frame subject to procurement schedules," AED said.

The initial report, issued last month, found that Puffin-7's poor performance was a result of damage to the wellbore while drilling.

In related news, AED said it expected to reconnect the floating production vessel to the Puffin oil field on the weekend, now that the threat of Tropical Cyclone Nicholas has passed.