Australia-based Beach said it will earn a 20% interest in the Australian Worldwide Exploration (AWE)-operated permit PEP 38482 in New Zealand’s Taranaki basin, by contributing to the costs of the Kopuwai-1 exploration well, to be drilled in September and October this year.
Following the signing of the farm-in agreement, AWE will retain a 50% interests in the permit, with Japan’s Mitsui holding the remaining 30%.
Meanwhile,
