Great South Basin

OMV New Zealand has been active in the GSB since 2007 and has acquired 19,000 km of 2D seismic data and 4,820 sqkm of 3D seismic data in the last 10 years. OMV’s seismic data is complemented by a comprehensive programme of geological and metocean studies, which has provided valuable information as exploration options are considered. On 16 March 2018 OMV NZ further increased its interest in the GSB permit by acquiring all of the shares in the permit operator company from Shell.

In 2013, the JV committed to drill one exploration well. The Sirius prospect, which is supposed to be drilled by July 2019, has a peer approved risk (PG ) of 27.8% and expected volumes (Pmean) of 1004 mmbbl (100% oil case) or 4.8 Tcf and 163 mmbbl condensate (100% gas case), respectively. If the well is a commercial success, significant follow-up potential has already been identified.