Oil production to double
PA New Plymouth Petrocorp is increasing its oil flow to ease its cash flow. The Government-owned oil company was given permission yesterday by the Clifton County Council to increase interim production from the McKee and Pouri oilfields from 1000 barrels daily to 2000. The move is likely to add $lO million to $2O million to
Petrocorp Exploration’s coffers by the end of the year, when its production facilities are completed. The council meeting was told that there were two main reasons for the application. They were a desire to increase domestic oil production and the cash flow of the McKee and Pouri oil fields, during a period of substantial capital expendi-
ture. Petrocorp also believed that the increased flow would provide further valuable information on the field’s behaviour. Up to now, interim production from the two fields has involved eight to 10 tanker movements between the field and Port Taranaki. Doubling production was likely to double the number of tanker movements, too.
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Press, 14 April 1984, Page 8
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166Oil production to double Press, 14 April 1984, Page 8
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