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Austrian OMV – most important oil producer in New Zealand

12 February 2015

Vienna headquartered OMV Group has already invested more than 1 billion EURO in research & development and the exploitation of oil beds and gas fields in New Zealand. By now, the company became the most important oil producer and the third largest natural gas producer of New Zealand.

After the discovery of the Maari oil field in 1983, cost-effective production was initially not possible due to its location off the southwest coast of the North Island, the depth of the water and the wax content in the oil. Thanks to the latest state-of-the-art technologies, e. g. the new downhole heating system, OMV New Zealand Ltd. announced "First Oil" in 2009 and from then, the success story took its course. More than 15 million barrels have been extracted from Maari since 2009 and currently OMV operates drillings with reserves that should last for another 10 years. OMV New Zealand is also the third largest natural gas producer in the country, thanks to its stake in the natural gas fields of Pohokura and Maui.

In addition, the relatively unexplored Great South Basin, a sedimentary basin south of the South Island, offers huge potential for future discoveries according to OMV New Zealand.
For further information please visit their website