NZOG relinquishes Kakapo permit offshore New Zealand

Offshore staff

WELLINGTON, New Zealand – New Zealand Oil & Gas has relinquished PEP 51311 and the Kakapo prospect in the permit area. NZOG holds 100% interest in the permit.

“We have made strenuous efforts to find a farm-in partner to share the investment risk. While interest in New Zealand’s prospective basins continues to grow, it has not been possible to farm out the prospect and secure a suitable rig contract before a deadline at the end of July,” said Andrew Knight, CEO.

“NZ Oil & Gas is heavily committed to New Zealand and we are excited about the upcoming season when there will be an unprecedented level of drilling activity around New Zealand,” he continued. “For example, we are involved in drilling offshore Taranaki before the end of the year at Matuku and Tui and we are the operator of Kaheru, where plans to drill in the summer of 2014-15 are advancing.”

7/26/2013

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...