First light crude from Kupe leaves Port Taranaki
ASX/Media Releases
15 Jan 2010
Origin Energy New Zealand ('Origin'), on behalf of the Kupe Joint Venture, has announced that the first shipment of light crude will leave Port Taranaki next week.
Tanker ship, the British Chivalry will arrive in Port Taranaki on 17 January to begin loading the first light crude from the Kupe Gas Project. The initial 120,000-180,000 barrel shipment is contracted to BP and is bound for the Kwinana Refinery in Australia.
Kupe has been producing natural gas, LPG and light crude since the wells were opened in early December. The light crude has been progressively trucked from the gas processing plant at Hawera and stored at the Kupe Tank Farm at Omata, near Port Taranaki.
Origin Energy New Zealand General Manager, Mr Chris Bush said production of gas and light crude had been proceeding as expected since the commissioning had begun, and the first shipment would be a significant milestone for the project.
Over the next 15-20 years, Kupe is expected to provide approximately 254 petajoules of natural gas, 1.1 million tonnes of LPG and 14.7 million barrels of light crude.
The light crude will be exported to refineries in the Australasian and South Pacific regions over the life of the project.
The complex offshore and onshore Kupe production system is online and operating successfully. Over the next two months Origin, as operator, will continue to systematically test the remaining plant and equipment associated with the offshore and onshore facilities.
Mr Bush said once Kupe was fully operational it would make a significant contribution to New Zealand's gas supply needs. It will provide 10-15 per cent of the nation's annual gas demand and more than 50 per cent of the country’s LPG demand.
| Kupe Gas Project participants are: | |
| Origin Energy Resources (Kupe) Limited* | 50 per cent (Operator) |
| Genesis Energy | 31 per cent |
| New Zealand Oil & Gas Limited | 15 per cent |
| Mitsui E&P Australia Pty Ltd | 4 per cent |
*a wholly owned subsidiary of Origin Energy Limited
For further information please contact:
Media – New Zealand
Bev Wisnewski
ETS & Environmental Manger
Ph: +64 6 769 9884
Australia
Tim Scott
Group Manager, Media Relations & Reporting
Ph: +61 2 8345 5306
Mobile: +61 428 964 820
Investors
Angus Guthrie
Group Manager, Investor Relations
Ph: +61 2 8345 5558
Mobile: +61 417 864 255
About Origin Energy
Origin Energy is Australasia's leading integrated energy company focused on gas and oil exploration and production, power generation and energy retailing.
Listed in the ASX top 20 the company has approximately 4,000 employees, is a leading producer of gas in eastern Australia, is the largest owner and developer of gas-fired electricity generation in Australia and is a leading wholesaler and retailer of energy. The company services more than 3.5 million electricity, natural gas and LPG customers across Australia, New Zealand and the Pacific. Origin's strategic positioning and portfolio of assets provide flexibility, stability and significant opportunities for growth in the ever changing energy industry. Through Australia Pacific LNG, its 50:50 incorporated joint venture with ConocoPhillips, Origin is developing Australia's largest CSG to LNG project based on Australia's largest CSG reserves base.
In New Zealand, Origin is the major shareholder in Contact Energy, the country's leading integrated energy company, operating geothermal, thermal and hydro generation facilities and servicing electricity, gas and LPG customers across both the North and South islands. Origin also operates several oil and gas projects in New Zealand and is one of the largest holders of petroleum exploration acreage in the country.
Origin has a strong focus on ensuring the sustainability of its operations, is the largest green energy retailer in Australia and has significant investments in renewable energy technologies.
For more information go to www.originenergy.com.au