29 Oct 2012

NZOG to begin first overseas drilling venture

7:01 am on 29 October 2012

New Zealand Oil & Gas is about to begin its first drilling venture outside of New Zealand on the island of Sumatra in Indonesia.

NZOG has a 22.5% stake in a joint venture to drill two exploratory wells, which are intended to appraise an undeveloped oil discovery which was made in 2003.

The company says construction at one drill site is now underway and drilling is expected to begin in December.