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OMV finalises acquisition of Shell’s upstream business in New Zealand

Dec 30, 2018
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Austria's OMV announced that it has closed the the acquisition of Shell’s Upstream business in New Zealand for US$578 million comprising joint venture interests in Pohokura, the largest gas producing field in New Zealand, and Maui as well as related infrastructure for production, storage and transportation.

The sale includes Māui (83.75 per cent), Pohokura (48 per cent), and Tank Farm assets, and the sale of Shell’s interest in (and operatorship of) the Great South Basin venture, which was subject to a separate agreement.

OMV has been partner in the acquired assets (OMV’s former stakes: 26 per cent in Pohokura and 10 per cent in Maui) and now assumes operatorship in both joint ventures.

“We are proud of having worked in New Zealand for more than 100 years and completion of the sale to OMV marks an important milestone in the company’s history,” said Zoe Yujnovich EVP, Australia and New Zealand.

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