Jadestone still not over the line in New Zealand
The independent continues to face regulatory hurdles to its acquisition of the Maari project
Singapore-based independent Jadestone Energy’s acquisition of the Maari oil project in New Zealand continues to drag on, more than two years after the initial deal was signed. Jadestone has excluded Maari’s projected 4,500-4,700bl/d average output from its production guidance for this year “pending further clarity on the timing of closing the acquisition”. The independent agreed to buy a 69pc operated stake in the project from the New Zealand subsidiary of Austria’s OMV back in November 2019 for $50mn. “Jadestone and OMV both [remain] committed to the Maari transaction, [and] we are ready to work with the government to expedite the completion of this deal,” the Singapore-based firm says. New
Also in this section
17 May 2024
The latest drought crisis is passing, but longer-term solutions are in motion, explains Panama Canal Authority Administrator Ricaurte Vasquez Morales
16 May 2024
Flat oil growth in 2024 highlights mounting industry problems
15 May 2024
Five years ago, Uzbekistan turned to a private company called Saneg to reverse the fortunes of its oil industry. Results so far are encouraging, and according to CEO Tulkin Yusupov, further progress is on the way
14 May 2024
But there is still plenty of appetite for the country’s LNG in the Asia-Pacific region