Scandoil  

Agreement reached between New Zealand Oil & Gas and Genesis Energy


Published Jul 2, 2014
New Zealand Oil & Gas Ltd.

Agreement has been reached between New Zealand Oil & Gas and Genesis Energy over the payment of overriding royalties from the Kupe oil and gas field.

The agreement will increase New Zealand Oil & Gas net profit after tax for the 2013-14 financial year by $5 million. The impact in the 2013-14 financial year will reflect payments relating to that financial year as well as for prior years. New Zealand Oil & Gas expects its future revenue from Kupe will increase by $1-2 million each year.

The overriding royalty has been under negotiation for several years. Negotiations are continuing with another Kupe partner, Origin Energy.

Tags: Genesis Energy, New Zealand Oil and Gas Ltd




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml