60km off Oamaru coast —huge oil and gas prospect #Barque

nz-oil-gas-completes-3d-in-clipper-permit [1derrick.com]NZOG completes 3D in Clipper-permit [1derrick.com]

NZOG gives itself a 10 to 20 per cent chance of success at the Barque prospect.

### Stuff.co.nz Last updated 19:04, July 30 2015
NZOG eyes potentially huge Barque oil and gas prospect
By James Weir
New Zealand Oil and Gas may be on to a huge oil and gas prospect in the Canterbury Basin off the South Island’s east coast, but it is still early days and the chances of success are uncertain. The Barque prospect is within the Clipper permit, about 60km off the coast from Oamaru, and it could hold the equivalent of hundreds of millions of barrels of oil. But it is in a higher risk and little explored “frontier” area.

NZOG says in the largest of the three prospective horizons in the Barque prospect, “the best estimate of unrisked prospective resource is 530 million barrels (of oil) equivalent”.

A test well could be drilled in 2017 at a cost of up to US$120 million, if NZOG can bring in a new partner or two to help pay for what the company says is a “pretty attractive prospect” which was likely to be gas condensate, a light oil.
“We are pretty excited about that (Barque) opportunity,” NZOG chief executive Andrew Knight said on Thursday, but the company now needed to get “farm in” partners to take a share of the permit and help pay for the costs of exploration. It is all looking very positive….or as positive as it can be till you stick a hole in it and test it,” he said.
Read more

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Posted by Elizabeth Kerr

4 Comments

Filed under Business, Economics, Geography, Inspiration, Media, Name, New Zealand, Offshore drilling, ORC, People, POL, Politics, Project management, Property, Site

4 responses to “60km off Oamaru coast —huge oil and gas prospect #Barque

  1. Elizabeth

    ### ODT Online Fri, 31 Jul 2015
    Test drill potential ‘game-changer’
    By Simon Hartley
    Test drilling for oil and gas could resume off Oamaru’s coast in 2017 on potentially the nation’s “largest hydrocarbon discovery”. New Zealand Oil and Gas is seeking joint venture partners to drill in the Barque prospect, which it says could hold up to 530 million barrels of oil equivalent.
    Read more

  2. Elizabeth

    Why give so many words to the naïve yet eternally scarfed or pearled Cr J MacTavish ?

    Hilary Calvert [Critic issue 17, 2013, article-3175] 2 re-imaged### ODT Online Fri, 31 Jul 2015
    Two sides to fossil fuel divestment
    By Carla Green
    Dunedin city councillors Jinty MacTavish and Hilary Calvert took sides on fossil fuel divestment at a student debating society event last night. The event opened with a debate between members of the Otago University Debating Society, followed by a question and answer panel discussion featuring Crs MacTavish and Calvert and Otago Uni Divests spokeswoman Annabeth Cohen.
    Read more

    *Image: Hilary Calvert [Critic issue 17, 2013, article-3175]

  3. Elizabeth

    Great news!

    NZOG said the Barque estimate had almost tripled, to 11trillion cubic feet of gas and 1.5million barrels of oil or gas condensate.

    Wed, 22 Feb 2017
    ODT : Oil and gas deposit estimates upgraded
    By Simon Hartley
    New Zealand Oil & Gas has again upgraded its estimates of the oil and gas deposits in the deepwater Barque prospect, about 60km off the coast from Oamaru. Due diligence on Barque is under way with unnamed international oil companies having signed confidentiality agreements with New Zealand Oil & Gas (NZOG). […] NZOG yesterday upgraded its Barque estimates, which in July last year were estimated to be the equivalent of 530million barrels of oil, which is at least double the size of the [1970s’] Maui discovery off Taranaki. Cont/

  4. Elizabeth

    At Facebook:

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