7 Jul 2011

New exploration permit granted to OMV NZ

4:51 am on 7 July 2011

OMV New Zealand has been granted a new permit to explore in the Taranaki Basin.

The oil exploration company holds a 65% interest in the permit and is the operator, while Octanex NZ holds the remaining interest.

The new permit is located west of its existing permit, which is also held by the same joint venture partners.

OMV says the Taranaki region remains a cornerstone of its operations in this country.