Minister marks end of successful development

Energy and Resources Minister Simon Bridges today congratulates OMV on their successful completion of the Maari Growth campaign in offshore Taranaki.

“OMV have announced that their drilling campaign is now completed, with the capacity of the Maari field expected to double to 20,000 barrels a day,” Mr Bridges says.

Four new wells were drilled during the project, with an investment of around $500 million.  The project was the first to be granted a marine consent for offshore development drilling through the Environmental Protection Authority.

The field began production in 2009.  At its peak it was producing around 40,000 barrels of oil a day.

“This is good news for OMV and for New Zealand.  I’m really pleased to see OMV’s long-term investment continuing to pay off.

“The National Government’s hard work in this area has delivered significant levels of exploration activity.  By necessity, the petroleum sector has a long-term view and – even with the current low global oil price – we remain confident that New Zealand remains attractive for those wanting to invest,” Mr Bridges says.

“The Government remains committed to developing our oil, gas and mineral resources in a sensible, safe and environmentally responsible way.”