We need the business, but…
Shell’s Roland Spuij highlighted that New Zealand’s historical success rate was 15%, compared with a global success rate of more than 30%, and said that the Great South Basin as a ”frontier” area had its pitfalls.
### ODT Online Tue, 9 Apr 2013
Gas drilling ’50:50′ call – Shell
By Simon Hartley
Oil and gas explorer Shell says its chances of undertaking a $200 million exploratory drilling programme in the Great South Basin are 50:50, with a decision expected within months. The company, which has spent more than $80 million in two separate seismic surveys in the basin off Otago in recent years, also confirmed yesterday it had committed a further $US10 million ($NZ11.8 million) to additional exploration of the Great South Basin. The latter work will include more than 2000km of 2-D seismic surveys within a 8500sq km exploration block acquired last December.
Data suggested the test drill had a 70% likelihood of being unsuccessful, with a 30% chance of finding commercially viable gas deposits.
Shell’s New Zealand exploration venture manager Roland Spuij was in Dunedin yesterday for a meeting with mainly local business people, which was abandoned because of interruptions by more than 30 anti-exploration protesters.
● Oil protesters shut down Shell meeting
Posted by Elizabeth Kerr