Exploration: Maari Field A “Success Story”
March 16th, 2010
Energy and Resources Minister Gerry Brownlee says the Maari offshore oilfield is proving a success story of the petroleum sector, having produced 6.5m barrels of oil in its first year. Brownlee was speaking at a function a year on to mark the commissioning of the Maari project, which is majority owned by Austrian-based oil producer OMV. Coincidentally, Cue Energy. which holds a 5% stake in Maari, announced oil production has begun from the M2A appraisal/development well. Flow testing will continue for several days after which it is expected to provide incremental oil production to the existing 5 production wells in the main Moki Formation reservoir. The M2A well was successfully drilled last September to assess the M2A sandstone which lies 50 metres above the Moki Formation. The M2A zone is estimated to contain P50 oil-in-place of 33.6M barrels. The Maari field is located about 80km off the south Taranaki coast.
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