OMV, the worldwide built-in oil and fuel firm headquartered in Vienna, has agreed to promote its 69% curiosity within the Maari Field, positioned in New Zealand’s offshore Taranaki Basin, to Jadestone Energy Inc., an unbiased oil and fuel firm centered on the Asia Pacific area.
The agreed buy worth is USD 50 mn, topic to closing changes. The efficient date of the transaction is January 1, 2019 and the closing of the transaction is topic to Joint Venture and New Zealand Government approvals. Average manufacturing of the divested property in 2018 was round 5 kboe/d (internet to OMV).
“The divestment of the Maari Field additional optimizes our portfolio and can shift us in New Zealand to a gas-only producer. This underlines OMV’s technique to provide considerably extra pure fuel than oil to cut back the carbon depth of the product portfolio sooner or later”, stated Johann Pleininger, OMV Board Member Upstream and Deputy Chairman of the Executive Board.
OMV will proceed to function the M?ui and Pohokura fuel fields – which collectively produced 37 kboe/d 12 months thus far (internet to OMV) and comprise a couple of third of New Zealand’s fuel reserves. OMV is investing an additional USD 300 mn on a variety of initiatives to increase the lives of the Maui and Pohokura fuel fields over the subsequent two years and to take care of New Zealand’s fuel provide.
Jadestone Energy is headquartered in Singapore, has its principal technical workforce in Kuala Lumpur and nation operational places of work in Perth, Jakarta, and Ho Chi Minh City. The firm is the 100% proprietor of the manufacturing Montara venture, offshore Australia. Its asset portfolio features a 100% operated curiosity within the producing Stag oilfield, offshore Australia and exploration and pre-development property in Vietnam and different components of Southeast Asia. The firm can also be in negotiations to verify an curiosity within the Ogan Komering PSC, onshore South Sumatra, Indonesia.
(Source and picture: OMV/Maari subject manufacturing platform)

The put up NEW ZEALAND – OMV SELLS ITS INTERESTS IN THE MAARI FIELD appeared first on Energy Global News.

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