Independent exploration and production company New Zealand Oil & Gas Ltd announced Monday that a global marketing campaign is underway to attract exploration partners into four petroleum exploration permits in the offshore Taranaki basin of New Zealand.
New Zealand Oil & Gas is looking to capitalize on an all time high in New Zealand exploration activity. The Noble Bob Douglas (UDW drillship), Kan Tan IV (mid-water semisub), and Ensco 107 (400' ILC) jackup will drill over a dozen wells in New Zealand in the coming year. They include Matuki-1, Oi-1 and Pateke-4H which are targeting nearly 80 million barrels of oil (gross) for NZ Oil & Gas and its partners.
New Zealand Oil & Gas Chief Executive Andrew Knight said New Zealand exploration opportunities have never been so high on the agenda for global exploration companies looking for high quality, high-impact opportunities. “Our New Zealand 2014 portfolio offers new entrants to New Zealand a rapid country entry package.”
The permits in the New Zealand 2014 portfolio contain a balance of scales, water depths and risk/reward levels, and offer a range of timing for potential drilling and for multi-scaled oil or gas developments.
New Zealand Oil & Gas is representing the interests of four separate exploration joint ventures and three separate joint venture parties.
In all but one, New Zealand Oil & Gas is the operator. Knight said that as New Zealand’s largest listed explorer it is recognized as the partner of choice for exploration in New Zealand. “While we can offer operatorship in the permits, partners are also recognizing we bring technical capability, relations with New Zealanders in the community and in government, and our New Zealand values in everything we do. We are a nation of explorers.”
The marketing campaign for the New Zealand 2014 Portfolio will use a global exploration opportunity marketing service based in London. Outlines of the opportunities in the portfolio are attached below. Suitably qualified, interested companies are invited to express their interest in the opportunities direct to New Zealand Oil & Gas.
Interest can be expressed online at nzog.com/2014offer.
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