Offshore staff
SINGAPORE – Jadestone Energy and OMV have agreed to revise the long stop date for their transaction in the Maari project offshore New Zealand to Jan. 31, 2021.
While they have secured most third-party consents, both companies are mindful of the need to be cautious on final government regulatory approval, with New Zealand’s 2020 general election imminent.
They now anticipate closing the acquisition by the end of the year, with Jadestone Energy assuming OMV’s 69% operated stake in Maari.
Jadestone plans to establish New Zealand as an extension to its core E&P area offshore Western Australia.
The company’s strategy is to acquire and reinvest in mid-life producing fields.
09/25/2020
