Shell To Develop Gas Field New Zealand

Oil and gas international company Shell?s branch in New Zealand has signed the Final Investment Decision for the development of the Pohokura gas field.

The company?s commercial manager Ajit Bansal said it laid foundation of the formal start of the development.

Shell recently has sold the first tranche of gas in Pohokura, and its Joint Venture partners now underpin the development.

Dr Bansal said Shell was still anticipating first gas to flow from Pohokura in mid 2006.
"We are confident that the project is on track to deliver first gas in mid 2006. Given New Zealand's critical need for more gas, Shell is very aware that Pohokura needs to be up and running in a timely manner.

The three Pohokura Joint Venture Partners are Shell New Zealand, OMV New Zealand and Todd Pohokura Ltd. Shell owns 48% of the shares; OMV New Zealand and Todd Pohokura Ltd own 26% each.
The Pohokura field was discovered in early 2000.