Shell NZ taps Chinese investor for deep ocean oil search

Tue, 07 May 2013

May 8 (BusinessDesk) - Shell New Zealand has announced it will start preliminary exploration for oil and gas in deep ocean between New Zealand and New Caledonia, in a 50/50 joint venture with the Chinese state-owned oil company. Shell says it will be conducting two-dimensional seismic exploration and other "non-invasive research techniques" to explore the seabed and geology of the virtually unexplored New Caledonia Basin, a prospect area that straddles New Zealand's 200 mile exclusive economic zone and extends into the country's extended cont...

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