NZOG, Tag, Beach partnership to surrender offshore Kaheru permit

Tue, 22 Mar 2016

By Paul McBeth March 23 (BusinessDesk) - New Zealand Oil & Gas, Tag Oil and Beach Energy want to surrender their permit to explore the Kaheru permit off the Taranaki coast, saying the current conditions don't support drilling which has to start in May. The joint venture today applied to surrender the permit, which operator NZOG has previously said wasn't economically viable to start drilling the prospect at the committed start date. NZOG holds 35 percent while Tag owns 40 percent and Beach 25 percent. "After exploring options to defe...

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