Last November EnergyReview.net reported that Pohokura operator Shell Todd Oil Services had awarded a contract for the acquisition of 40km of 2D seismic over a strip of coastal land between Bell Block and Waitara and extending up to 6km offshore as part of the “Terrace” project.
At that time STOS confirmed the survey was not associated with preliminary work for the four development well (three production and a water disposal) program that the OD & E Rig 41 has subsequently started for the possible NZ$1 billion Pohokura field development. STOS said the purpose of the Terrace survey was the identification of new hydrocarbons.
Now today's Taranaki Daily News said Todd was going it alone in the Terrace-1 exploration project – a deviated well to test an un-named geological prospect about 2km offshore.
Todd plans to drill the well from a coastal site just 400m from the New Plymouth airport and has contracted Parker Drilling Rig 188 for the job.
But Todd Energy well engineering and drilling manager Andy McGregor today declined to confirm that Todd planned to drill Terrace-1 on a sole risk basis.
"This well is within the old Pohokura exploration permit first held by Fletcher Challenge Energy and all we are saying right now is that we have all the consents necessary to drill Terrace-1," he told EnergyReview.net.
“Based on the seismic data that we have and the geological similarities to other successful wells in the region, there is a potential hydrocarbon trap at a depth of over three kilometres that we believe warrants further investigation.”
Analysts say the well would probably target the same Eocene-aged producing formations that FCE and partners encountered early this decade with the first Pohokura wells.
If Todd drilled Terrace-1 on a sole-risk basis it would be the second time in two years that Todd had drilled an exploratory well without long-time partner Shell.
Todd and Shell teamed up in mid-2003 to drill the deviated shallow Patea-1 well in southern Taranaki, but Todd went it alone with the subsequent shallow Patea East-1 well. Both wells were later plugged and abandoned.
