OMV gives Jadestone more time to wrap up New Zealand acquisition

Singapore’s Jadestone Energy has been given more time to acquire Austrian operator OMV’s interest in the Maari oilfield off New Zealand as the country nears a general election.

OMV agreed to sell its 69% operating interest in the Maari field late last year in a US$50 million deal that was originally expected to wrap up in the second half of this year.

However, Jadestone revealed on Friday that the two companies have agreed to amend the long stop date for the deal from 15 November this year to 31 January 2021.