Monumental Energy has completed a seismic reinterpretation that could enable gas prospects extending offshore in New Zealand’s Taranaki Basin to be drilled from land.
The work covers the 254 km² Tirua Point permit application area, where the exploration group has identified two gas-condensate prospects: Mauku NE and Mangatoa.
Mauku NE targets Eocene Mangahewa Formation sandstones at approximately 2,000 metres depth. It lies updip of the Mauku-1 well, drilled in 2013, which intersected 140 metres of net reservoir.
Recently reprocessed seismic also indicates that the southern culmination of the deeper Mangatoa prospect, targeting Cretaceous Taniwha Formation sandstones, could be reached from an onshore location. Historical offshore well data provide additional evidence of gas-bearing sands in this formation.
The company estimates recoverable resource potential of 200 PJ for Mauku NE and more than 1,000 PJ for Mangatoa. These remain company estimates requiring further technical work and drilling.
The permit remains subject to approval by New Zealand Petroleum and Minerals.
