Beach joins OMV in Great South Basin venture

Thu, 19 Dec 2019

Beach Energy has committed $27 million for a 30 percent stake in OMV’s exploration venture in the Great South Basin.Beach, which has stakes in two other exploration permits off the Otago coast, said the Tawhaki structure OMV is targeting covers 470 square-kilometres and is thought to comprise reservoir rock of similar age and quality to the “excellent” sandstone encountered in the Caravel-1 well drilled off the Dunedin coast in in 2014.“Tawhaki is one of three frontier exploration wells Beach will participate in over the next 18 months,” chief...

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