Project Profile
Value: Undisclosed
Location: East Coast Basin, New Zealand
Reserves: unknown
Area: 9,800 square kilometres
Depth: 1,000-2,000 metres
Start-up Year: -
Petroleum Exploration Permit (PEP) 57073 is a license located in the East Coast Basin. It covers an area of 9,800 square kilometres and sits in water depths of 1,000-2,000 metres. In 2016, Statoil agreed with OMV to acquire a 30% working interest in Petroleum Exploration Permit (PEP) 57073. OMV remained the operator with 70% working interest. This is an underexplored area with the potential for multiple plays. The permit is adjacent to permits 57083, 57085 and 57087 which were awarded to Chevron and Statoil in 2014. OMV and Statoil will work together on the exploration programme in PEP 57073. This includes geological and geophysical studies, as well as seismic acquisition over the coming years. The work will provide information necessary to decide, in 2021, if a well commitment should be made in the permit. In addition to the partnerships with Chevron and OMV in the East Coast and Pegasus basins, Statoil also operates two exploration permits in the Reinga basin.
Operators:
OMV: Operator with 70% interest
Statoil: 30% interest