Malaysian Sapura Enters NZ
Malaysia's Sapura Energy has farmed into five oil and gas permits in the Taranaki Basin offshore New Zealand with government approval, it said March 26. The offshore exploration permits comprise PEP 57075, PEP 51906, PEP 60091, PEP 60092 and PEP 60093 and give Sapura access to more than 8,900 km2.
“This is a strategic entry for Sapura E&P and we will be working with our partners to mature potential drilling locations prior to making well commitments. The joint venture will see Sapura E&P utilising its sub-surface technical expertise to support the exploration activities within these exploration areas,” said Sapura Energy president Tan Sri Dato’ Seri Shahril Shamsuddin.
All five permits are in shallow water of the Taranaki Basin, where over 2.5bn barrels of oil equivalent have been found, the company said.
Sapura has a 30% interest in all five exploration permits, which will be operated by OMV. OMV has 70% in PEP 57075 and PEP 51906 and the other three are co-owned by OMV (40%) and Mitsui (30%).
The development comes days after Sapura started its maiden gas development project offshore Malaysia. Sapura Energy has also secured a key role as contractor at the Pegaga gas field development by Mubadala, Petronas and Shell, also offshore Sarawak.