Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

TAG Oil remains committed to East Coast permits

TAG Oil remains committed to East Coast permits


Media Statement 14 January 2013


TAG Oil said it would continue with the exploration programme underway in its East Coast permits following the decision by Apache to not proceed with its involvement in the permits.

Apache has advised TAG Oil that it won’t proceed to Phase 2 of the exploration programme. However, Apache has committed to pay all costs and expenses actually incurred or committed in respect of the Phase 1 program. Phase 1 includes drilling four exploratory wells on the east coast.

TAG CEO Garth Johnson said: “Whether we like it or not, this is the nature of the oil and gas exploration business around the world and we will treat it as an opportunity and move on.”

“We will continue with the work programme on the East Coast in the same careful, methodical and safe way that we have carried out our work programmes in Taranaki.

“We will also continue to work openly and constructively with local and central Government and with other key stakeholders on the East Coast,” Mr Johnson said.

Ends.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

NZ's Space Programme: Rocket Lab Makes It To Space (But Not Orbit)

Electron lifted-off at 16:20 NZST from Rocket Lab Launch Complex 1 on the Mahia Peninsula in New Zealand. It was the first orbital-class rocket launched from from a private launch site in the world. More>>

ALSO:

Earlier:

Budget: Irrigate (Good Times, Come On!)

Additional grant funding of $26.7 million over the next three years plus a capital boost of $63 million towards irrigation investments in Budget 2017 will deliver economic and environmental benefits through better use of water... More>>

ALSO:

Silver Fern Farms: Proposal To Close Fairton Sheepmeat Plant

Silver Fern Farms has advised its people of the proposal to permanently close the site, and has discussed potential transfer options to its other sites in the region as part of the consultation process...
More>>

ALSO:

MPI: Myrtle Rust Appears In Taranaki

The nursery in Waitara (just north of New Plymouth) reported suspected myrtle rust symptoms on young plants to the Ministry’s 0800 number yesterday (Tuesday). More>>

ALSO: