OMV gets two new petroleum exploration permits
Posted: 30 January 2006
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OMV has received two offshore exploration permits in New Zealand. The permits have been granted to OMV New Zealand Ltd, a 100 per cent subsidiary of OMV Aktiengesellschaft in a 50/50 Joint Venture with the Australian energy company, Origin Energy Limited. Origin Energy will be the operator of the permits.
Helmut Langanger, OMV Executive Board member responsible for exploration and production said: “OMV is delighted to be awarded these permits. This is step forward in strengthening our position in one of our international core areas. Our successful application reflects OMV’s confidence in New Zealand’s potential as a hydrocarbon producing region.
Exploration activities start 2006.
The two permits are located in the Northland Basin, offshore the South West Auckland area (see attached map). These permits will be OMV’s first offshore step outside of its exploration and mining permits in the Taranaki Basin area and involve Joint Venture commitments of approximately NZ$ 15 million in total. OMV expects initial seismic survey acquisition to begin in the 2006/07 season followed by an evaluation and interpretation period of up to 12 months.
Posted by Editor Pipeline Magazine
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