EXPLORATION

OMV pulls out of NZ block

AUSTRIAN giant OMV has withdrawn from a large licence in the offshore Northland Basin, New Zealand, leaving Origin Energy to contemplate the prospect of having to fund and drill two wildcat wells on its own in late 2009-early 2010.

Operator Origin and OMV had been equal partners in licences PEP 38618 and 619 that were merged into a larger PEP 38619 earlier this year. However, according to Crown Minerals, OMV has now withdrawn...

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