WELLINGTON, New Zealand -- New Zealand Oil & Gas has a conditional agreement to participate in a deepwater exploration permit offshore Taranaki, New Zealand.
NZOG would take 6.111% in PEP 38451 from Global Resource Holdings and 0.556% from Randall C Thompson, with both these companies retaining a 5% carried interest in the permit.
Other partners are operator Anadarko (50%) and Hyundai Hysco (33.333%).
The agreement is conditional on New Zealand ministerial consent and regulatory approvals for a well on the Romney prospect on the 16,380-sq km (6,324-sq mi) concession, the first exploration permit granted over the deepwater extension to Taranaki basin.
Anadarko has indicated it plans to use a drillship currently under construction, Noble's Bob Douglas, for its offshore New Zealand drilling campaign during 2013-14.