• Subscribe
  • Magazine
  • Videos
  • Webcasts
  • Events
  • About Us
  • Exclusive Content
  • Best Places to Work
    1. Regional Reports
    2. Australia & New Zealand

    Jadestone gets extension for entry to Maari project offshore New Zealand

    Sept. 25, 2020
    Jadestone Energy and OMV have agreed to revise the long stop date for their transaction in the Maari project offshore New Zealand to Jan. 31, 2021.
    (Courtesy OMV)
    The Maari wellhead platform.
    The Maari wellhead platform.

    Offshore staff

    SINGAPORE – Jadestone Energy and OMV have agreed to revise the long stop date for their transaction in the Maari project offshore New Zealand to Jan. 31, 2021.

    While they have secured most third-party consents, both companies are mindful of the need to be cautious on final government regulatory approval, with New Zealand’s 2020 general election imminent.

    They now anticipate closing the acquisition by the end of the year, with Jadestone Energy assuming OMV’s 69% operated stake in Maari.

    Jadestone plans to establish New Zealand as an extension to its core E&P area offshore Western Australia.

    The company’s strategy is to acquire and reinvest in mid-life producing fields.

    09/25/2020