OMV Gets First Oil from Maari Growth Project


VIENNA, Dec 1 (Reuters) - Austrian energy group OMV has drawn its first oil from the Maari redevelopment drilling campaign in New Zealand, it said on Monday, a project that aims to increase reserves, production and recovery from a producing offshore field.

Production capacity for the well, known as MR-8A, was estimated at 4,500 barrels of oil per day (gross).

The Maari Growth campaign includes drilling five wells into producing and new reservoirs. OMV will invest around 205 million euros in the campaign expected to be completed by mid-2015.

The Maari joint venture partners are OMV New Zealand Ltd (69 percent and operator), Todd Maari Ltd (16 percent), Horizon Oil International Ltd (10 percent) and Cue Taranaki Pty Ltd (5 percent), it said.

(Reporting by Michael Shields; Editing by Shadia Nasralla)

Copyright 2016 Thomson Reuters. Click for Restrictions.


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