Oil giant OMV has redefined the exploration boundaries of its Great South Basin permits as the July deadline looms when it must decide to drill or relinquish its southern holdings.
Only two of OMV's three Great South Basin permits were changed, with the total square kilometre area of the respective permits remaining the same.
OMV NZ managing director Wayne Kirk said in late January the interpretation of seismic data collated by the company was complete and he expected to make an announcement in July on the drill or drop decision, as required by the permit issued by Crown Minerals.
While United States company Anadarko Petroleum Corp is still in the running to drill in the adjacent Canterbury Basin next summer, OMV is now alone in its deepwater aspirations in the Great South Basin.
Last October, the consortium of United States giant Exxon Mobil and partner Todd Energy relinquished its Great South Basin permit, citing technical risks and lack of a third partner.
About a year ago, Anadarko pledged $US30 million ($NZ40.7 million) towards its 50% share in a venture with Canterbury Basin permit-holder Australian-listed Origin Energy.
Anadarko staff have since visited Dunedin twice to evaluate local infrastructure and contracting opportunities.
It is understood Anadarko is investigating rig-sharing with other companies to spread the multimillion-dollar cost of bringing a rig to New Zealand.
