New Zealand ///
Petrofac's Engineering and Production Services business has strengthened its presence in Australasia following the award of a Well Project Management contract from Tamarind Taranki Ltd (Tamarind).
In April 2018, the New Zealand government announced that it would no longer grant new offshore oil and gas exploration permits. According to leading data and analytics company GlobalData, the suspension of new offshore licensing is unlikely to have an immediate impact on the oil or gas sector, but does signal the possibility of increased restrictions in the future.
New Zealand will stop granting offshore oil and gas exploration permits, saying it is committed to playing its part in tackling climate change.
Royal Dutch Shell plc (Shell), reached an agreement today to sell its shares in Shell entities in New Zealand, to OMV for $578 million.
An average capex of $7.1 billion per year is forecast to be spent on 31 upcoming oil and gas fields in Oceania between 2018 and 2025, according to GlobalData, a leading data and analytics company.
Emily Querubin, World Oil
TAG Oil Ltd. (70%), operator of the Puka permit (PEP 51135) in New Zealand’s Taranaki basin, said the Pukatea-1 exploration well was drilled to 10,170 ft, MD, encountering variable hydrocarbon shows.
TAG Oil Ltd. has provided a positive update on its Pukatea-1 exploration well, which was spudded on Jan. 24, 2018. The Pukatea-1 well is located in TAG Oil’s operated Puka permit (PEP 51135, 70% TAG Oil) in the Taranaki basin of New Zealand.
Royal Dutch Shell Plc’s sale of its remaining New Zealand energy assets has drawn interest from companies including OMV AG and Vermilion Energy Inc., people with knowledge of the matter said.
AWE Limited has entered into an agreement to sell the company’s 57.5% interest in the Tui area oil fields to Tamarind Management Sdn Bhd, subject to customary consents from the New Zealand Government and Tui Joint Venture.
OMV New Zealand, the operator of Maari oil field, has ceased oil production and is de-manning the Maari wellhead platform (WHP) as a precautionary measure while it deals with a crack found in one of the platform’s horizontal struts.
Statoil has informed the New Zealand Government of its decision to stop looking for oil and gas in the Reinga basin.
William J. Pike, World Oil
Unbridled hypocrisy
Statoil has agreed to acquire a 30% working interest in New Zealand’s Petroleum Exploration Permit (PEP) 57073 from OMV.
New Zealand’s Energy and Resources Minister Simon Bridges has announced the award of nine new oil and gas exploration permits for Block Offer 2015.
TAG Oil, a Canadian-based corporation with operations in New Zealand, announced Thursday that its COO, Frank Jacobs, has resigned to pursue other opportunities.
Cue Energy has initiated production from the Maari MR7A development well, with a provisional initial production rate between 1,500 to 2,000 bopd.
AWE Limited, as operator of PMP 38158, has completed the subsea tie-back and installation project to connect the Pateke-4H development well to the Tui area oil fields gathering system. Oil production has now commenced.
New Zealand's Energy and Resources Minister, Simon Bridges, has launched Block Offer 2015, the country's annual tender for oil and gas exploration permits.
Cue Energy has initiated production from the Maari MR6A development well, with an initial production rate of approximately 7,800 bopd.
Ron Bitto, Contributing Editor
LNG takes center stage in Australia and Southeast Asia