OMV clinches further NZ permits

OMV gains new exploration acreage off New Zealand's North Island

Offshore staff

(Auckland) New Zealand's Ministry of Economic Development has granted OMV two new offshore petroleum exploration permits, under a 50/50 joint venture with Australia's Origin Energy. The permits are located in the Northland Basin, offshore the South West Auckland area. All OMV's previous permits were in the Taranaki Basin area.

The company expects to start seismic survey work during 2006-7, followed by an evaluation and interpretation of up to 12 months.

02/06/2006

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