Maari/ Manaia Oilfields (PMP 38160)
Cue holds a 5% interest Petroleum Mining Permit (PMP) 38160 which contains the Maari and Manaia producing oilfields, and is located in the Taranaki Basin, approximately 80 km offshore New Zealand.
Current production from the fields is approximately 5300 barrels of oil per day (bopd).
Oil is produced through a wellhead platform adjacent to the Maari field and connected to the Floating Production Storage and Offtake (FPSO) vessel Raroa, approximately 1.5km from the wellhead platform.
Oil from the field is distributed to nearby refineries via tanker shipments.
The JV is now assessing and prioritising value adding projects, including production enhancement and cost reduction opportunities with the aim of extending the field life beyond the existing permit expiration date
The PMP 38160 Joint Venture partners include: