FID For Kupe Production Installation

Posted on 28 August 2019

A final investment decision for a compression installation project has been approved by partners in
the Kupe joint venture.

The inlet compression project will reduce inlet pressure and allow extension of the plateau
production rate, while maximising recovery from the Kupe field.

The cost for the 4 per cent New Zealand Oil & Gas share of the compression project is less than $4
million. It is expected to be completed in mid-2021. The Kupe gas fields will produce at below
maximum plant capacity until then. Once completed, the aim of compression is to restore
production to the maximum rate of 77 terajoules per day.

The compressor project production profile and costs have been included in previously published
New Zealand Oil & Gas reserves and cost assumptions.

The Kupe production plant onshore South Taranaki will be shut in for maintenance for about a
month in November this year.

The partners in the Kupe joint venture are:

Beach Energy (Operator) 50%
Genesis Energy 46%
New Zealand Oil & Gas 4%.