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Northbridge Industrial Services Plc

Tamarind gets consent for development drilling offshore New Zealand

Energy company Tamarind Resources has been granted consent for development drilling at the Tui field located offshore New Zealand. The company is now waiting for the arrival of a COSL Drilling-owned rig.

The marine consent and marine discharge consent has been granted by the Environmental Protection Authority of New Zealand for development drilling activities at the Tui field, offshore Taranaki.

Commenting on the government’s decision on Wednesday, Tamarind said it expects to develop a further 6 – 8 million barrels of oil as a result of this campaign, extending the life of the Tui field into the mid 2020s.

 

Northbridge Industrial Services plc (LON:NBI) hires and sells specialist industrial equipment to a non-cyclical customer base. With offices or agents in the UK, US, Dubai, Belgium, Germany, France, Australia, Singapore, New Zealand, Brazil and Korea, Northbridge has a global customer base.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.