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- Release Date: 16/09/13 17:14
- Summary: MINE: NZO: New Zealand Oil & Gas launches its 2014 Portfolio
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NZO
16/09/2013 15:14
MINE
REL: 1514 HRS New Zealand Oil and Gas Limited
MINE: NZO: New Zealand Oil & Gas launches its 2014 Portfolio
- Offshore New Zealand oil & gas exploration at an all-time high over next 2
years
- New Zealand Oil & Gas seeking farm in partners for New Zealand 2014
Portfolio
- Multiple drilling targets with potential for hundreds of millions of
barrels of oil
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 capitalise on an all time high in New
Zealand exploration activity. The Noble Bob Douglas deep-water drill ship,
Kan Tan IV semi-submersible rig, and Ensco 107 jack-up rig 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 says 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. Andrew Knight says
that as New Zealand's largest listed explorer it is recognised as the partner
of choice for exploration in New Zealand.
"While we can offer operatorship in the permits, partners are also
recognising 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. 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
Opportunity snapshots are attached.
John Pagani
External Relations Manager
M: +64 21 570 872
End CA:00241158 For:NZO Type:MINE Time:2013-09-16 15:14:43
