New Zealand: Origin Energy Plugs And Abandons Korimako-1 Offshore Well

Origin Energy advises that the Korimako-1 exploration well had reached total depth of 1,946m and as at 06:00 hours NZDST on Tuesday, 2 November 2010, the current operation is plugging and abandoning the well.

The well was drilled vertically using the semi-submersible drilling rig Kan Tan IV which is being managed for Origin by Australian Drilling Associates (ADA).

Minor shows were observed intermittently between 1,120m and 1,620m. The primary target of the well was intersected close to prognosis, but no intervals of economic significance were identified.

Abandonment operations are expected to be completed early this week, after which the Kan Tan IV drilling rig will be released and move to the Tarapunga-1 well location

Well type and location

Korimako-1 is an exploration well located in New Zealand Offshore Petroleum Exploration Permit area PEP 38619 in the Northern Taranaki/Northland Basin. Origin Energy Resources NZ Ltd (wholly owned subsidiary of Origin Energy) is operator and has a 100% interest in PEP 38619.

Korimako-1 is a vertical well. The final surface location is:

Latitude (NZGD49): 37° 34’ 59.92” S

Longitude (NZGD49): 174° 16’ 27.79” E

Northing (NZMG): 6401617 m N

Easting (NZMG): 2622823 m E

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Source: Origin Energy, November 3, 2010: