28 Oct 2009

Kupe costs and revenue up

12:24 pm on 28 October 2009

New Zealand Oil & Gas says development costs at its Kupe field have risen, but so has the expected revenue from it.

At its annual meeting in Wellington on Wednesday, the company, which also has a share in the Tui oil field, told shareholders its final share of the costs for Kupe will be up to $200 million.

The company says the Kupe field, which is expected to be operational soon, will make a solid contribution to future earnings over the next 15 years.