Oil hopes dimmed
PA New Plymouth The Republic Petroleum v Corporation's oil wells at Port Taranaki will flow at far be'llow the forecast rate, according to revised production es- > i timates. i| The general manager, Mr j[G. W. West, said that the t ) wells would need pumping. ; . He said they would follow .a trend encountered with 1 other wells drilled in a Motu!ruo oil field — high initial dwell pressures, declining quickly once production [(started. >1 Two of the corporation’s • four wells at the port, are exI peered to begin producing in ! I about a fortnight. Pumps to draw the oil to the surface ; will be installed, because the dwells cannot produce enough iiunder their own pressure. Republic originally estij mated that about 60' barrels ’ of oil and 400.000 cubic feet • of gas a day would be produced from the No. 1 well near the lee breakwater. i Mr West said the produc- ■ tion rate was now estimated about 12 barrels a day.
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Press, 26 February 1977, Page 7
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162Oil hopes dimmed Press, 26 February 1977, Page 7
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