Beach has agreed with OMV to acquire a 30% interest in frontier PEP 50119, 16,760 sq km in deepwaters of the Great South Basin and home to the Tawhaki prospect. The deal is in exchange for the 30% funding of Tawhaki-1 due to spud early 2020 (COSL Prospector SS), and is conditional on usual approvals. Resulting partnership OMV (op), Beach + Mitsui.
New Zealand, PEP 50119