Shell New Zealand's upstream financials filed with the Ministry of Economic Development unit show revenue in 2007 from Shell's New Zealand upstream interests - principally the Maui and Pohokura fields - was up on the preceding year, though profit was down.

Revenue for the 2007 calendar year increased by about 22% from $NZ932 million (about $A739 million) in 2006 to $NZ1.14 billion in 2007 while profit decreased by about 18% from $NZ584.1 million to $NZ478.9 million last year.

Shell's revenue from Maui declined from about $NZ313 million in 2006 to about $NZ343.4 million last year as production from the field continued to decline.

While Pohokura contributed just $NZ72.3 million to Shell's revenue in 2006, its contribution last year - its first full year of production - was $NZ481.7 million. First gas from the near-shore Pohokura field was in August 2006.

Total petroleum production from Maui fell from about 3.83 million barrels of condensate and 79.57 billion cubic feet of gas in 2006 to 2.15MMbbl and 47.86Bcf respectively, according to the MED's Energy Data File released last week.

In contrast, Pohokura production increased from 0.94MMbbl of condensate and 12.02Bcf of gas in 2006 to 4.69MMbbl and 59.57Bcf respectively.

Shell's only other producing asset in New Zealand is the onshore Taranaki Kapuni gas-condensate field, jointly owned with Todd Energy.

Kapuni production fell from 0.626MMbbl of condensate and 37.25Bcf of gas in 2006 to 0.521MMbbl and 32.78Bcf respectively last year.

The Maui partners are Shell Exploration NZ (83.75%), Todd Energy (6.25%) and Austrian firm OMV (10%).

The Pohokura partners are operator Shell Exploration NZ (48%), Todd Energy (26%) and OMV (26%).