Partnership seeks to exit offshore New Zealand license

Offshore staff

WELLINGTON, New Zealand – New Zealand Oil & Gas (NZOG) and partners TAG Oil and Beach Energy have submitted an application to relinquish the PEP 52181 (Kaheru) permit offshore South Taranaki.

Recently, NZOG advised that current economic conditions do not justify drilling a prospect on the permit prior to the commitment date of May 2016.

The partners decided to withdraw after exploring options to defer or amend work obligations.

03/24/2016

Share your news with Offshore at news@offshore-mag.com

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

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...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...