Sapura Energy Berhad (“Sapura Energy” or “the Company”) is pleased to announce that its associate company, SapuraOMV Upstream Sdn. Bhd. (“SapuraOMV”) together with Joint Venture partners Mitsui Exploration and Production Australia Pty Ltd (“Mitsui E&P Australia”) and OMV New Zealand Limited (“OMV NZ”) have made a discovery with a positive result in the Toutouwai-1 exploration well in the Taranaki Basin, in New Zealand. The prospect is located 50 kilometres off the Taranaki coast in 130 metres of water.
The preliminary results are encouraging with several hydrocarbon charged layers encountered in the Cretaceous sandstones. Currently, SapuraOMV is working with the Toutouwai Joint Venture partners, Mitsui E&P Australia and OMV NZ, on the additional work required to determine the well’s commercial viability.
SapuraOMV is a strategic partnership between Sapura Energy and OMV Aktiengesellschaft.
Attached is a related press release dated 10 July 2020 for your attention.
This announcement is dated 10 July 2020