New Zealand Oil & Gas announced Wednesday that the joint venture partners in PEP 52181, offshore South Taranaki, have submitted an application to exit the permit.
Operator New Zealand Oil & Gas announced in February that economic conditions could not
The permit is held by New Zealand Oil & Gas, which holds a 35 percent operated interest, TAG Oil, which holds a 40 percent interest, and Beach Energy, which holds the remaining 25 percent interest.
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