New Zealand has passed new laws on offshore decommissioning
Jadestone still not over the line in New Zealand
The independent continues to face regulatory hurdles to its acquisition of the Maari project
Singapore-based independent Jadestone Energy’s acquisition of the Maari oil project in New Zealand continues to drag on, more than two years after the initial deal was signed. Jadestone has excluded Maari’s projected 4,500-4,700bl/d average output from its production guidance for this year “pending further clarity on the timing of closing the acquisition”. The independent agreed to buy a 69pc operated stake in the project from the New Zealand subsidiary of Austria’s OMV back in November 2019 for $50mn. “Jadestone and OMV both [remain] committed to the Maari transaction, [and] we are ready to work with the government to expedite the completion of this deal,” the Singapore-based firm says. New
Also in this section
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
21 January 2025
The new president must put his cards on the table and tell the American people, and the world, if the US is formally abandoning the energy transition
