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New Zealand ups Indonesian energy efforts

May 29, 2012 at 6:25 PM   |   Comments

WELLINGTON, New Zealand, May 29 (UPI) -- New Zealand Oil and Gas has expanded its efforts to secure increased energy prospects in Indonesia.

NZOG has recently won a bid to explore a block in northern Sumatra as it expands efforts to locate and develop oil and natural gas deposits outside New Zealand.

NZOG has already begun focusing efforts on Tunisia and Indonesia, among other foreign interests, as potentially lucrative areas for development, Radio New Zealand reported Tuesday.

NZOG has a 22.5 percent stake in the Kisaran concession in central Sumatra, where it plans to drill an exploratory well this year, and has acquired a 45 percent stake in the Bohorok block adjacent to Medan in northern Sumatra.

In conjunction with its Indonesian partners in a joint venture, NZOG intends to spend roughly $4 million up through 2015 to develop of the Kisaran concession, where NZOG has a 50 percent share.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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