Several players prepare to spin the drillbit in NZ

By Russell Searancke Wellington

 15 March 2012 10:31 GMT

Oil companies including operators such as Shell, Anadarko and OMV with deep-water exploration acreage in New Zealand are busy making preparations for landmark drilling campaigns later in the year.

Shell is standing by to become the first company in three decades to drill in the harsh environment of the Great South basin.

Last August the Anglo-Dutch supermajor acquired a 50% share in Blocks PEP 50119 and PEP 50120 from the existing joint venture comprising OMV, PTTEP and Mitsui.

Shell said last month it planned to drill one key exploration well in New Zealand this year, but it is understood the joint venture has work programme commitments that exceed one well.

Ideally, the offshore drilling season in the country is between October and May.

Given…

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