New decommissioning rules in NZ should assist Maari field sale

A long-delayed transaction between OMV and Jadestone Energy over the Maari oilfield offshore New Zealand could make progress now that the New Zealand government has passed its decommissioning legislation.

OMV and Jadestone in November 2019 executed a US$50 million sale and purchase agreement for OMV's 69% interest in Maari. The pair have since then continually extended the long stop date.