NZOG sees "unprecedented" Aussie gas opportunities

NZOG plans a further production well in the Kupe field this year. (Image: NZME)

Thu, 31 Aug 2023

New Zealand Oil & Gas reported a $19.1 million net profit after tax for the year to June 30, down from the previous year’s $25.7m, reflecting spending associated with increasing oil and gas production.Total production was up 7% from the previous year as development of acreage in the Mahato field in Sumatra increased oil production, while gas output at its Australian Palm Valley asset was up 49%.It was also the first full year of revenues from the Amadeus Basin assets in the Australian Northern Territory, which NZOG acquired part-...

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