Chevron’s New Zealand business has taken the licences for new blocks in a frontier oil basin where the sea ranges between 2,600 and 9,800 feet in depth, covering an area of 6.2 million acres, to the south of North Island. The President of Chevron New Zealand, Melody Meyer, said that the acquisition supported the company’s breadth of possible long-term exploration options in Asia-Pacific.
She explained that the project approach would be guided strongly by the highest possible safety and environmental standards. Working interests will be held 50/50 between Chevron and Statoil. Totalling 6.2m acresLast updated on 12:48PM - 15/12/14