OMV New Zealand, a wholly owned subsidiary of OMV, holds a 26% stake in this gas field, together with Shell Exploration New Zealand Ltd (48%) and Todd Pohokura Ltd (26%).
Pohokura production is expected to reach approximately 40,000 barrels oil equivalent in 2007, with gas production contributing around 40% of New Zealand’s gas demand.
According to Stuff.co.nz, the field will become the main gas source for three major power stations owned by Contact Energy, and one source for Genesis Energy’s new Huntly power plant.
As a result of participating in the venture, OMV will be able to expand its position as a significant New Zealand energy supplier, tripling its total production in the country. Indeed, OMV, together with its share of Maui gas production, will become the third largest gas producer, supplying approximately 11% of the New Zealand market.
