Oil drilling plan over next two years on 'unprecedented' scale

Wed, 22 Aug 2012

By Pattrick Smellie Aug. 22 (BusinessDesk) - Almost 90 new oil exploration and production wells are planned in New Zealand over the next two years in a programme that independent analysts Edison Investment Research say will cost oil and gas companies as much as $2.3 billion. The estimates are contained in Edison's inaugural New Zealand Petroleum Yearbook, perhaps the most comprehensive private sector compilation of the prospects for the local energy sector ever attempted. Some 60 of the 88 potential wells identified in the report are onshor...

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