NZOG considers exit from Tui after offer from Blackstone-backed Tamarind

Tue, 13 Dec 2016

By Jonathan Underhill Dec. 14 (BusinessDesk) - New Zealand Oil & Gas says it's considering an offer to buy its 27.5 percent interest in the Tui oil field after Tamarind, an energy company backed by Blackstone Energy Partners, agreed to buy the 57.5 percent stake held by field operator AWE for US$1.5 million. The agreement between ASX-listed AWE and Tamarind was announced yesterday, with AWE saying the bidder had the ability to "maximise value from late life assets" and experience in decommissioning offshore oil projects. With Tamarind on...

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