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
25 April 2024
Some companies with assets in Israel have turned towards Egypt as tensions escalate, but others are holding firm despite rising tensions
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields
23 April 2024
Cheaper Russian barrels and lower overall crude prices have helped cut key oil consumer’s import bills in election year
22 April 2024
Pursuing three different goals as part of the same package may mean achieving none of them