NZOG commits to Kakapo well

Mount Taranaki: NZOG has commited to drill on the Kakapo prospect in the offshore Taranaki basin, New Zealand

Kea Petroleum

related stories

Danica Newnham

 26 September 2012 05:52 GMT

New Zealand Oil & Gas (NZOG) said it planned to drill on its Kakako prospect off the South Taranaki coast of New Zealand once a suitable rig is negotiated.

The Australia-listed company was awarded permit 51311, containing the Kakapo prospect, in 2009. It had until this week to decide whether to commit to drill or relinquish the permit.

NZOG chief executive Andrew Knight said in a statement that the drill commitment reflected the company’s intention to step up its exploration activity.

“NZOG has assessed the potential for Kakapo to be several times the size of the Tui or Maari fields. This has the potential to make a considerable contribution to our community and the New Zealand economy,” he said.

In addition to Raisama…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index