Marine Consent Granted
Tamarind is very pleased with the decision of the Board of Inquiry to grant our Marine Consent and now looks forward to the safe and successful execution of the Tui Development Drilling Project. Tamarind expects to develop a further 6 – 8 million barrels of oil as a result of this campaign, extending the life of the Tui Field into the mid 2020s. Tamarind would like to thank the EPA and the Board of Inquiry for the manner in which the process has been undertaken. Tamarind has found the process to be well managed, transparent and timely.
The drilling project is currently on target to commence drilling in June with an expected duration of about 110 days. At this stage, 3 sidetrack wells are planned, but Tamarind continues to look at the potential to drill a fourth sidetrack well, depending on the results from the initial 3 wells.
The rig, the COSL “Prospector”, will be used to drill the sidetrack wells. This rig is different from that originally proposed by COSL (the HYSY 982) and was formally changed in early 2019 to accommodate a request from the rig contractor (COSL). The “Prospector” is a sister rig to the HYSY 982 and this change represents no material difference to Tamarind’s proposed activities. Further to the information within Tamarind’s Impact Assessment, further information and evidence, provided at the Hearing apply equally to the COSL “Prospector”.
The rig is currently in transit from Norway to New Zealand and, following a voyage of approximately 120–130 days, will reach the well site location at Tui in late May or early June - depending on weather conditions during the voyage. The rig is a self-propelled vessel and will transit to NZ under its own power. All necessary biosecurity cleaning and clearances were completed prior to the rig’s departure. NZ-based crew will be joining the rig as it transits from Norway to NZ, with the first group of NZ crew due to join the rig in Las Palmas, Canary Islands.
Below you will find a video featuring our CEO Ian Angell providing an overview of the project and additional information about Tamarind.
Tamarind is pleased to announce that we have signed a relationship agreement with Te Korowai o Ngāruahine Trust.
Ngāruahine is one of the eight iwi in Taranaki and its rohe is located between Taranaki Iwi to the west and Ngāti Ruanui to the east. The Tasman Sea is of particular significance to Ngāruahine, as historically it provided a means of navigation, a mechanism by which trade was conducted and particularly, sustenance by way of the food (mataitai/shellfish) contained within it.
Tamarind respects Te Korowai’s kaitiakitanga approach and is committed to working together with Te Korowai to enable ongoing information sharing and mutual education on matters relating to Tamarind’s activities and Te Korowai’s interests in the ocean and coastal marine area within its rohe.
Our agreement sets out a framework for an ongoing relationship and to record the mutual commitment to work together to achieve the agreed goals based on the values of:
We look forward to further building our relationship with Te Korowai o Ngāruahine Trust and to finding ways that we can support their mission to be a healthy, wealthy and culturally vibrant iwi.
As announced in November 2018, Tamarind entered into a share and asset purchase agreement with TAG Oil Ltd. to acquire their Taranaki Basin assets.
TAG shareholders voted to approve the transaction on 3rd January 2019 and Tamarind has been busy working through transition planning.
Tamarind is working on transitioning a number of TAG’s employees to the company at completion of the transaction. As an established operator in the Taranaki Basin, Tamarind has a number of similarly established roles already. Unfortunately, this means there won’t be suitable roles for a number of TAG’s employees after the transition to Tamarind as operator. Tamarind’s main priority is to ensure a seamless and safe transition during the transfer period.
Deal close is expected to be on or around 31st March 2019 and remains subject to regulatory and government approvals.
State Gas, which is approximately 37 percent owned by Triangle Energy, posted the following news release this morning.
Read the full ASX Release below.
Tamarind has recently completed the purchase of a 33.3% interest in the Corowa oil discovery in block WA-41-R. We are looking forward to taking an innovative approach using mobile operating and production units as part of a wider strategy.
Read the full article below or on Upstream Online.
An excerpt from coverage of the Board of Inquiry hearing we had last week related to our EPA applications for marine consent and marine discharge consent: