N.Z. Pet. agreement with Shell, B.P.
(New Zealand Press Association)
WELLINGTON, March 12.
The New Zealand Petroleum Company, Ltd, has reached agreement with ShelLBPTodd Oil Services, Ltd, granting it an option to earn a 50 per cent interest in off-shore petroleum prospecting licence No. 683. The area lies between Greymouth and Ross.
New Zealand Petroleum is required to conduct an extensive seismic survey over the licence area. On completion of this survey, the company will have
the right, subject to certain conditions, to drill one offshore test well to earn its 50 per cent interest. The agreement is subject to the consent of the Minister of Mines. The seismic survey will commence immediately and i will be performed in conjunction with additional off-shore seismic work in New Zealand Petroleum’s Westland licences, which are adjacent to licence No. 683. The two programmes will consist of approximately 500 miles of survey lines.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19710313.2.190
Bibliographic details
Press, Volume CXI, Issue 32554, 13 March 1971, Page 20
Word Count
150N.Z. Pet. agreement with Shell, B.P. Press, Volume CXI, Issue 32554, 13 March 1971, Page 20
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.