Shell is, clearly, serious about its search for gas in the
Great Southern Basin off the coast of Otago and Southland as
it considers whether to spend $200 million on an exploratory
well. It is also, obviously, aware of the need to consult
widely.
A 50:50 call by oil and gas explorer Shell on whether to go
ahead with $200 million of drilling in the Great South Basin
has been welcomed by Minister for Energy and Resources Simon
Bridges.
Oil and gas explorer Shell says its chances of undertaking a
$200 million exploratory drilling programme in the Great
South Basin are 50:50, with a decision expected within
months.
The man heading Shell New Zealand's Great South Basin gas
exploration project has described a community engagement
meeting in Invercargill on Tuesday as ''positive from all
sides''.
Shell has acquired another exploration block in the Great
South Basin, which will likely push the cost of its
hydrographic seismic survey work in recent years beyond $100
million.
Shell representatives have informally met a few local
businesses concerning infrastructure support for its oil and
gas exploration intentions in the Great South Basin.
Austrian oil giant OMV and its majority joint venture partner
Shell New Zealand will begin their next seaborne seismic data
acquisition programme in the Great South Basin this week,
part of an overall $50 million programme.
This month, Shell New Zealand
announced it had joined the venture exploring the Great South
Basin for oil and natural gas. Rob Jager, chairman of Shell
Companies in New Zealand, says environmental protection is at
the top of its agenda.
More offshore exploration in the Great South Basin has been
confirmed with the New Zealand subsidiary of Austrian oil
giant OMV announcing yesterday Shell New Zealand will become
its majority joint venture partner; with a further $50
million going into more seaborne seismic data acquisition.
