The company revealed Wednesday it had increased its proven plus probable developed reserves from 4.2 million barrels of oil equivalent to 5.6 million boe.
“Optimising performance in existing assets is a strategic priority for New Zealand Oil & Gas,” NZOG chief executive Andrew Knight said.
“Kupe is a quality asset and it is pleasing to announce an increase in reserves that does not require additional capital to realise.”
NZOG
