23 May 2007 - 11:13
  • News Code: 105393

OMV New Zealand has picked up exploration acreage off the west coast of New Zealand"s North Island and will shoot a 2D seismic survey there early in 2008.

New Zealand"s regulatory authority has given OMV offshore exploration Block PEP 381200 for 5 years starting from Sept. 1. The acreage lies in 1,000 m of water in the Taranaki basin.

 

The permit is near OMV"s existing assets: Pohokura, Maui, and Maari. Pohokura is the second-largest gas field in New Zealand and produces 40,000 boe/d—about 40% of the country"s gas demand.

 

Operator OMV plans to start oil production from Maari oil field in 2008 in partnership with Todd Maari Ltd., Horizon Oil International Ltd., and Cue Taranaki Pty. Ltd. Gross peak oil production is expected to hit 35,000 b/d.

 

OMV"s 69% share of Maari"s oil production, together with the natural gas liquids production from both Pohokura and Maui fields, will make OMV the leading oil and condensate producer in New Zealand.

 

PIN/OGJ.COM

News Code 105393

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