PEP 57073 (Pegasus East Coast – frontier)

Farm-In Profile

PEP 57073 (Pegasus East Coast – frontier)

OMV

OMV New Zealand Ltd (OMV) is seeking partners to earn a participating non-operated interest in seven of its key exploration permits in New Zealand (Figure 1). Four are offered jointly with Mitsui E&P Australia Pty Ltd (MEPAU). OMV intends to retain operatorship along with 30% - 40% equity in each permit. Six permits are in the productive Taranaki Basin & the seventh is in the prospective East Coast Basin. 

Gaining entry into these seven exploration blocks offers a unique opportunity to access a balanced non-operated acreage position with limited near-term exposure and long-term exploration running room.  The Taranaki permits offer near-field & on-trend exploration in a favourable structural and depositional setting. The East Coast permit offers frontier exploration in an under-explored proven petroleum basin with significant acreage holdings by international oil companies. 

Pegasus East Coast – frontier 

PEP 57073 (OMV operator 70%, Statoil 30%) covers an area of 9,800 km2 in the offshore Pegasus Basin on the east coast of the North Island of New Zealand. The Pegasus Basin has seen a dramatic increased industry interest in 2015. The permit straddles a mix of shallow to deep-water exploration plays.  3D seismic will be completed in PEP 57073 at the end of Q2 2017. 

Contact details:

Process & Contacts
For further information on the farm-in process and discussion on opportunities, please contact:

Simon Lange
Head of Exploration, Development & Production
OMV New Zealand Ltd
simon.lange@omv.com

Tim Allan
Exploration & Appraisal Manager
OMV New Zealand Ltd
tim.allan@omv.com

New Zealand country office:
Level 20, The Majestic Centre
100 Willis Street
Wellington 6011
New Zealand 

Phone:
+64 4 910 2500

 

Farm-In Opportunity

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