NZPA
Repairs to the Kan Tan IV rig drilling the Hoki-1 exploration well off the Taranaki coast are taking longer than expected.
New Zealand Oil and Gas Ltd (NZOG) on Friday told the NZX of the further delay and said it was very disappointed that the issues now identified were not rectified prior to the rig's arrival in New Zealand.
Earlier this week NZOG said some essential repair work was required by the rig operator Maersk Drilling to ensure the ongoing safe operation of the drilling unit on the Kan Tan IV.
Maersk Drilling had advised that the repairs would take longer than previously envisaged and that a full repair and reinstatement of the safe operation of the drilling mast would take about three weeks.
NZOG said safety was always the first priority and suspending the drilling of Hoki-1 to enable this essential work was unavoidable.
The costs of this repair and the rig day rate are being met by Maersk Drilling.
After the completion of the repair work, drilling operations would resume from the depth of 1505m, where casing has been set and cemented.
The Hoki-1 well lies about 135km west of New Plymouth and in water depth of 330m.
NZOG has a 10 per cent stake in the venture, Todd Petroleum Mining Company Ltd has 18.75 per cent, AWE has 50 per cent and OMV New Zealand Pty has 21.25 per cent.
