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Shell’s wells yield $162 million profit

6 August 2012

Oil and gas giant Shell made a profit of $162 million from its fields in Taranaki last year, including the huge but ageing Maui and Kapuni gas fields.

Shell sold its retail petrol stations in New Zealand in 2010, but it maintains its large and profitable oil and gas production fields in Taranaki and is a partner in a joint venture to explore for more in the Great South Basin off the bottom of the South Island.

It is possible partners in the Great South Basin could drill an exploration well in the summer of 2014-15, but they are still analysing data from seismic testing. read more

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