Silence on big find reports
PA New Plymouth Oil industry sources yesterday refused to confirm or deny reports of a major gas and condensate ‘(light oils) find off the Taranaki coast. The strike was reportedly made last Thursday by the Zapata Arctic semi-submersible rig, currently working about 65 kilometres north of New Plymouth. The rig is being operated by the American company, Arco Petroleum, Ltd, over its Kora-1 well site in licence area PPL38447. Sources, who did not wish to be identified, said flow testing had begun over the well and added the field could be as large
as the Maui gas field in offshore south Taranaki.
Ministry of Energy officials contacted yesterday said they were not at liberty to give out any information about progress at the well.
Arco has no New Zealand shareholders, apart from the Government’s interest, and is therefore not required to make any public announcements. It is obliged to keep the Government informed, but may withhold information from the public for up to five years, the ministry said. Arco officials said there might be a press release about well progress in about two weeks,
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Press, 23 January 1988, Page 29
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189Silence on big find reports Press, 23 January 1988, Page 29
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