OMV New Zealand has a 26% share in the Pohokura gas field in the Taranaki Basin. It purchased this holding in 2003 from German company Preussag Energie.
Other Pohokura joint venture partners include Shell Exploration NZ (48%), which operates the field on behalf of the joint venture partners, and Todd Pohokura Ltd (26%).
The Pohokura field is located about 4.5 kilometres off the Taranaki coast. Gas and fluids from the reservoir are piped to an onshore production facility where the gas is separated from residual water and light oil (known as ‘condensate’). The field has been in production since 2006 and currently meets about 40% of New Zealand’s gas demand.