Originally Posted by
Enjay
Hi Vaygor1
Picking up on regulatory / coalition government point this thread, the policy currently only applies to new grants of permits, rather than the progression from a PPP to PEP, or PEP to PMP - as I understand it.
So, for the Clipper / Barque prospect under PEP52717, NZOG and Beach have existing rights to carry out exploration activities until 2027 (including drilling wells as required under the permit). Then, in 2027 or earlier, they'll have the choice to progress to a PMP (if commercially viable plays emerge). These are unaffected by the current government's policy.
One extra piece of red tape to consider is OIO. NZOG and partner Beach being foreign owned would probably need OIO consent to construct on-shore production facilities - those facilities sitting on regulated land. With a FPSO arrangement, a sub $100M transaction will fly under the OIO radar but a $100M+ transaction would be caught.
On my reading, possibly a little less gloomy but not without regulatory risk / uncertainty. Hope that's helpful!