Announced
Financials
Tags
Friendly
Majority
offshore drilling
New Zealand
offshore oil equipment
Private
Acquisition
Pending
Cross Border
Single Bidder
Offshore Drilling and Other Services
Infrastructure
Synopsis
Jadestone Energy, an upstream oil and gas development and production company, agreed to acquire a 69% interest in the Maari Project, a mid-life producing asset located in permit PMP 38160, in the offshore Taranaki basin, from OMV, an Austrian multinational integrated oil, gas and petrochemical company, for $50m. "I’m delighted to establish a new operating presence in New Zealand and to begin building relationships with local regulators, communities, staff and other stakeholders. Adding the Maari Project to our growing portfolio of high-value assets in the Asia Pacific region demonstrates our ability to bolt on new assets and provides more than a decade of additional free cashflow, even in the 2P reserves only scenario, as supported by our external reserves audit," Paul Blakeley, Jadestone Energy President and CEO.
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