The supply agreement is for an initial five wells with the potential to add a further three wells based on drilling success.
Tag Oil holds a drill-ready prospect inventory that covers more than 3,500 sections of land in the Taranaki and East Coast basins, including a 100% interest in the producing Cheal oil and gas discoveries now under appraisal and development.
Rheochem CEO Haydn Gardner said that Tag Oil is a new oil and gas customer for Rheochem in New Zealand and builds on the geothermal contracts already in place.
