AWE: Shopping for barrels

After a bad run with the drill bit, AWE is shopping for reserves growth. Gaurav Sodhi takes a look to see what’s in the trolley.

With the wildly successful Tui oilfield nearing depletion, AWE has been chasing barrels; sinking exploration holes all over the Taranaki Basin in New Zealand and pursuing gas in America and Indonesia. Currently, the company is inspecting shales buried deep within the Perth Basin for signs of more gas.

The hunt for reserves, though, isn’t over. AWE recently made its most ambitious move yet; the acquisition of an undeveloped oilfield in the Natuna Sea, offshore Indonesia.

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