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
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.