NZOG seeks entry to deepwater New Zealand concession

New Zealand Oil & Gas has a conditional agreement to participate in a deepwater exploration permit offshore Taranaki, New Zealand.

Offshore staff

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'sBob Douglas, for its offshore New Zealand drilling campaign during 2013-14.

10/11/2012

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