Shell, OMV, Mitsui to target NZ’s Great South Basin, seeking ‘next Taranaki’

Jan. 7 (BusinessDesk) – Shell New Zealand and its joint venture partners OMV New Zealand and Mitsui E&P Australia are to drill an exploration well in the Great South Basin, off the South Island’s southeast coast, in a move the energy industry hopes will create ‘the next Taranaki.’
Shell, the operating partner, may begin drilling in 2016. The partners have an interest in two licences that run through 2017. Shell took over from OMV as operator in 2011 when it bought in to the permits. OMV has previously said it needed deep-sea drilling expertis...
Subscribe to BusinessDesk
Stay informed on business, government and financial developments across New Zealand.
- Deeply researched, twice-edited and fact-checked news
- Annual subscribers also receive a complimentary subscription to The Wall Street Journal
- Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers
You can cancel anytime with two clicks, an email or a phone call.
Find out more.
We are serious about journalism.
Already a Subscriber ? Sign in here.
{{ registerForm.errors.get('form') }}
We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.
{{ cardForm.errors.get('card') }}
{{ registerForm.errors.get('plan') }}
{{ __(plans[index].name) | capitalize }}
{{ plans[index].attributes.old_price | currency }}
{{ plans[index].price | currency }}
All subscriptions auto renew but are easy to cancel.
Tax: {{ taxAmount(selectedPlan) | currency }}
Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}
Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}
{{ registerForm.errors.get('email') }}
Not convinced yet?
Subscribe to our free 7am Headlines newsletter.
A quick summary of everything BusinessDesk has published in the previous 24 hours. No BusinessDesk
subscription needed.