New Horizons for oil field

HORIZON OIL and its partners, operator OMV New Zealand Ltd, Todd Maari and Cue Taranaki Pty achieved first oil from the Maari field in New Zealand on November 28.

The well, MR-8A, started producing from a previously undrained compartment in the field and is estimated to be able to pump out 4500 barrels of oil per day, gross.

OMV New Zealand is the operator of the joint-venture and began production in February 2009.

The field production has since declined from peak rates of about 25,000boepd net to OMV.

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