OMV provides glimmer of light for gas sector in land of the long white cloud

摘要

NEW Zealand has dropped off the global oil and gas map due to the government's antipathy towards fossil fuels, but at least OMV is still there to offer hope of renewed exploration and production investment. Since the April 2018 ban on new offshore exploration permits, all of the country's frontier offshore exploration blocks have been surrendered, and the total area under permit is about 80% less. OMV and Beach Energy are the surviving operators of offshore fields, and the former is under pressure because of its underperforming Pohokura gas field, which has pushed up local gas prices.