NZOG throttles back on Tunisian oil and gas field project

Fri, 01 Mar 2013

By Pattrick Smellie March 1 (BusinessDesk) - New Zealand Oil & Gas's attempt to diversify into international territories has taken a knock, with the company declining to support a development plan to develop the Cosmos South oil field, offshore Tunisia. NZOG announced the decision along with a writedown of $6.5 million against the cost of the Cosmos investigations to date. "The decision, by itself, isn't a final decision in any respect," chief executive Andrew Knight told BusinessDesk. Rather, NZOG had told Storm Ventures, the Canadian ope...

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