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OIL

AWE cuts Tui reserves

OPERATOR AWE has downgraded its assessment of the initial total recoverable reserves of the offshore Taranaki Tui Area oil fields by about 20%, from 50.5 million to 40-42 million barrels.

AWE cuts Tui reserves

However, it still believes there may yet be more reserves that can be accessed by future in-fill or exploration drilling. Minority partners New Zealand Oil & Gas and Pan Pacific Petroleum told the ASX...

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