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NZOG sees LNG potential in Barque prospect

Written by  Wednesday, 22 February 2017 21:38
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New Zealand Oil & Gas (NZOG) has updated its analysis of the Barque prospect, offshore from South Canterbury and North Otago in New Zealand, and believes there is more potential than previously thought.

Analysis of the prospect in the Clipper permit, PEP 52717, revealed up to three horizons in the structure, the Willington-based company said.

Best estimates of unrisked petroleum in place in these horizons now total 11 Tcf of gas and 1.5 billion bbl of liquid which include oil or gas condensate.

Since operator NZOG, and partner Adelaide-based Beach Energy both share a 50:50 partnership in the permit, their share within the proven petroleum system totals 5.5 Tcf gas and 750 MMbbl liquid each.

However, NZOG said it is currently presenting farm-in opportunities internationally to prospective partners with experience and scale to drill a deepwater prospect like Barque.

Located in the Canterbury basin, Barque lies in about 800m of water, approximately 60km from shore east of Oamaru. The target formations lie between 2500-3000m below sea level.

NZOG said if all three horizons are developed simultaneously, a gas-to-shore liquefied natural gas project (LNG) project is considered the most likely development concept.

It could yield 8.2 Tcf of raw gas, of which 4.8 Tcf could be available for conversion to LNG, plus 8.5 million tonne of liquefied petroleum gas and almost 600 MMbbl of condensate. 

Image: Map of Clipper permit / NZOG

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