OMV New Zealand secures Kan Tan IV to drill Matuku

OMV New Zealand secures Kan Tan IV to drill Matuku

Drilling rig confirmed for 2013

Part of OMV’s multi-well Taranaki-based programme

On behalf of the PEP 51906 joint venture (JV), OMV New Zealand announces the commitment of the semi-submersible drilling rig Kan Tan IV for a 90-day drilling programme centred on the Matuku prospect in Permit 51906. The programme is expected to begin in the third quarter of 2013.

The PEP 51906 JV includes OMV New Zealand (65%, operator), Octanex (22.5%) and NZOG (12.5% subject to regulatory approval).

The Matuku prospect is offshore, approximately 25 km from the Maari Field and drilling will take place in water depth of approximately 135 metres.

Operated by Frigstad Offshore on behalf of rig owners Sinopec, Kan Tan IV is a semi-submersible drilling unit capable of operating in water depths of up to 457 metres. The rig is currently anchored off Singapore having completed an extensive refurbishment programme which included going into dry-dock to have its hull overhauled and an update to its on-board equipment.

“The drilling programme at Matuku is part of our ambitious investment programme to find and tap into new reservoirs in the wider Taranaki Basin,” said OMV New Zealand Managing Director, Peter Zeilinger. “It will complement OMV’s planned multi-well drilling and development plans in and around the Maari Field, but it is a separate programme.”

The agreement provides for the possibility of additional drilling being added to the above mentioned programme.

OMV New Zealand secures Kan Tan IV to drill Matuku

Drilling rig confirmed for 2013

Part of OMV’s multi-well Taranaki-based programme

On behalf of the PEP 51906 joint venture (JV), OMV New Zealand announces the commitment of the semi-submersible drilling rig Kan Tan IV for a 90-day drilling programme centred on the Matuku prospect in Permit 51906. The programme is expected to begin in the third quarter of 2013.

The PEP 51906 JV includes OMV New Zealand (65%, operator), Octanex (22.5%) and NZOG (12.5% subject to regulatory approval).

The Matuku prospect is offshore, approximately 25 km from the Maari Field and drilling will take place in water depth of approximately 135 metres.

Operated by Frigstad Offshore on behalf of rig owners Sinopec, Kan Tan IV is a semi-submersible drilling unit capable of operating in water depths of up to 457 metres. The rig is currently anchored off Singapore having completed an extensive refurbishment programme which included going into dry-dock to have its hull overhauled and an update to its on-board equipment.

“The drilling programme at Matuku is part of our ambitious investment programme to find and tap into new reservoirs in the wider Taranaki Basin,” said OMV New Zealand Managing Director, Peter Zeilinger. “It will complement OMV’s planned multi-well drilling and development plans in and around the Maari Field, but it is a separate programme.”

The agreement provides for the possibility of additional drilling being added to the above mentioned programme.

About OMV in New Zealand
OMV New Zealand is the country’s largest liquid hydrocarbon producer, the third largest gas producer, and a major explorer in offshore Taranaki and the Great South Basin off the coast of the South Island.

It has been active here since 1999 when it acquired shares in the Maari oil discovery which it developed and now operates. Focusing strictly on exploration and production in New Zealand, OMV New Zealand currently holds shares in the Maui and Pohokura gas fields and the Maui pipeline. In addition, OMV New Zealand also has a number of offshore exploration permits in the Taranaki and Great South Basin regions.

OMV hasinvested over NZ$1.6 billion in New Zealand to date. In 2011, it paid over $221M to the Crown in taxes and royalties.

OMV New Zealand is a subsidiary of OMV Aktiengesellschaft, also known as the OMV Group.

OMV Aktiengesellschaft
With Group sales of EUR 34.05 bn and a workforce of 29,800 employees in 2011, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Exploration and Production, OMV is active in two core countries Romania and Austria and holds a balanced international portfolio. OMV had proven oil and gas reserves of approximately 1.13 bn boe as of year-end 2011 and a production of around 288,000 boe/d in 2011. In Gas and Power, OMV sold approximately 272 TWh of gas in 2011. In Austria, OMV operates a 2,000 km long gas pipeline network with a marketed capacity of around 101 bcm in 2011. With a trading volume of around 40 bcm in 2011, OMV’s gas trading platform, the Central European Gas Hub, is amongst the most important hubs in Continental Europe. In Refining and Marketing, OMV has an annual refining capacity of 22 mn t and as of the end of 2011 approximately 4,500 filling stations in 13 countries including Turkey. OMV further strengthened its position through the ownership of a 97% stake in Petrol Ofisi, Turkey’s leading company in the retail and commercial business.

ENDS

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