ABSTRACT
Seismic prospecting offshore increased 130%, to 34,141 line-mi. No seismic work was done on land.
Drilling on land reached an all-time record with 11 wells completed and an aggregate footage of 56,470 ft. This is an increase of 39% over the previous year. All wells were abandoned, but 3 had gas shows of which 1 tested up to 1.0 MMCFGD with minor amounts of condensate. For 1973, however, a sharp decline in drilling activity is anticipated.
Concession areas decreased both on land and offshore. By the end of the year, land licenses covered 36,088 sq mi, and offshore licenses 339,803 sq mi. A further decrease of land concessions is anticipated for 1973, as some licenses probably will expire without being renewed immediately.
The Kapuni field continued its upward trend in gas and condensate production; 12,484.22 MMcf of dry gas and 1,118,133 bbl of condensate were produced—an average of 34.2 MMCFGD and 3,000 b/d of condensate. New reserve figures indicate a proved recoverable reserve of 655 Bcf of raw wet gas, equivalent to 460 million million BTU. An agreement for the development of the offshore Maui gas field, which probably will include a government participation, is anticipated for 1973. In New Plymouth, the small Moturoa oil field ceased production on July 31.
