Todd Energy Limited Focused on Taranaki Basin Hydrocarbons

THE CONFERENCE CALLER: Todd Energy has been a leading New Zealand oil and natural gas explorer for over 70 years, with an exploration program focussed on searching for new hydrocarbon resources for the security of New Zealand’s energy future.

Todd’s exploration strategy is focused within the Taranaki Basin.

This geological province underlies the Taranaki Peninsula and extends offshore from the top of the South Island, to just south of Auckland.

The basin holds all New Zealand’s commercial hydrocarbon resources, which are supported by well-developed production, processing and transport infrastructure.

In the Taranaki Basin, Todd is involved in four onshore and offshore producing fields – 100 per cent owner operator of onshore fields, McKee, Mangahewa and Kapuni, and a 26 per cent Joint Venture partner with OMV in the onshore/offshore Pohokura field.

The company purchased the McKee and Mangahewa fields in 2001, taking over as operator in 2006.

To date, the total Todd investment for the Mangahewa development is over $1 billion and consists of the Mangahewa Expansion Train 2, full field compression project and drilling of 20+ development wells across the field from several different sites.

Over the next 10 years further drilling campaigns are expected to add 450 PJ of natural gas into the market, including Todd Energy’s current Mangahewa G drilling program.

Todd has been a JV partner in the Kapuni field since its discovery in 1959.

In 2017 Todd acquired Shell’s 50 per cent to become 100 per cent owner operator.

The Kapuni focus is appraising reservoirs at 3500m depth for potential future development.

The 2016 Kapuni 3D seismic survey covering 450 square metres was an important milestone in helping extend the field life into its sixth decade of production and beyond.

Current field activity includes the construction of Kapuni J development wellsite.

With the offshore JV, Todd is a major New Zealand hydrocarbon producer with working interests in over 50 per cent of the country’s hydrocarbon energy production.

In addition to actively managing current developments, Todd Energy is continually re-evaluating and assessing new opportunities to ensure secure energy supplies for New Zealanders into the future.