AWE has successfully completed the tie-back of well offshore of New Zealand
Australia’s AWE Limited (ticker: AWE) announced that it has completed the subsea tie-back and installation to connect the Pateke-4H development well to the Tui area oil fields gathering system. The company began flow testing the well to determine the optimal well settings.
According to the company’s press release, the well recorded an initial unstabilized flow rate of 34 MBOPD at 67% choke and a 48% water cut, which the company says is in line with field modelling. AWE plans to stabilize the well at a much lower flow rate in order to maintain long-term production.
Bruce Clement, AWE Managing Director, said, “The successful tie-back and commissioning of the Pateke-4H well represents the final stage of development for the Tui project, which has been a cornerstone production asset for AWE for almost a decade.” Clement also added that the project is expected to boost near-term production and cash flow without additional operating costs.
The Pateke-4H subsea tie-back and installation project commenced on March 5, 2015. The project involved the installation of 1,312 meters (4,304 feet) of flexible flow line, a gas lift umbilical and production manifold, integrated controls and ancillary equipment in water depths of about 124 meters (406 feet).
The Tui area oil fields comprise of the Tui, Amokura and Pateke fields which are located approximately 50 kilometers (31 miles) off the coast of Taranaki, New Zealand. Production from each field is fed into the Tui field gathering system and then into the FPSO vessel, the “Umuroa.”
AWE has a 57.5% operator’s interest in the Tui area fields with partners New Zealand Oil & Gas (27.5%) and Pan Pacific Petroleum (15.0%).
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