Joint venturers
The New Zealand Petroleum Mining License (PML) 38146 is held by a Joint Venture consisting of Origin Energy Resources (Kupe) Ltd (50%), Genesis Power Limited (31%), New Zealand Oil & Gas Limited (15%) and Mitsui E& Australia Pty Ltd (4%).
Origin Energy is the operator of the Kupe Gas Project.
Origin Energy Resources (Kupe) Ltd
Origin Energy is a major Australian integrated energy company focused on gas and oil exploration and production, energy retailing, power generation and utility network management.
Origin’s strategy is to develop its business in the competitive segments of the energy market and in particular in the segments of gas production, power generation and energy retailing.
Activities closely related to these segments include oil production, utility network management and investment in energy infrastructure.
Origin’s activities in New Zealand are consistent with its strategy of focusing on the competitive segments of the energy market.
Origin’s exploration portfolio seeks to produce gas and oil from reserves strategically located close to energy markets and existing infrastructure, and includes both offshore and onshore acreage in the Taranaki Basin of New Zealand. Origin’s acquisition of a 50% interest and operatorship of the Kupe Field in New Zealand is an example of the company’s efforts to secure and develop new producing assets in the region.
Genesis Power Limited
Genesis Energy, a state-owned enterprise, has a diverse generation portfolio and is one of New Zealand's largest energy retailers.
They operate 1,600MW of generation including New Zealand's largest thermal power station at Huntly, hydro stations at Tongariro and Waikaremoana, a wind farm in the Wairarapa and co-generation facilities at large industrial sites. They own 31% of the Kupe oil and gas field.
As a retailer, they have approximately 644,000 electricity and gas customers located predominantly in the North Island and have regional offices located in Auckland, Hamilton, New Plymouth, Palmerston North and Wellington.
New Zealand Oil & Gas Limited
New Zealand Oil & Gas Limited (NZOG) is an independent public company which owns significant reserves and high quality petroleum exploration permits in the Taranaki Basin, New Zealand, as well as the Pike River hard coking coal deposit in the South Island.NZOG is listed on the New Zealand and Australian stock exchanges. Most of NZOG's 10,000 shareholders are individual investors.
NZOG's oil and gas activities cover a significant portion of the Taranaki Basin, both onshore and offshore, including:
- West Maui license PEP 38460 - potentially a major new oil play, confirmed by the Tui oil discovery in February 2003 and the follow-on Amokura oil discovery in February 2004
- Mangatoa - a major gas prospect accessible from onshore
- West Kupe PEP 38384 - a permit adjacent to the Kupe field where 2D seismic date has recently been acquired over several oil prospects
Mitsui E&P Australia Pty Ltd
Mitsui E&P Australia Pty Ltd is a wholly owned subsidiary of the Japanese conglomerate, Mitsui & Co. Ltd (Mitsui). Mitsui is a publicly listed company in Japan and is one of the largest Japanese conglomerates that is involved in diversified areas of business including metal & minerals, machinery, chemicals, consumer products and services, as well as oil and gas.
In oil and gas exploration and production, Mitsui is an active player in not only New Zealand but also in Australia, the Middle East, South East Asia and Russia.
In carrying out its business, Mitsui seeks to operate as an active member of communities. Mitsui is proud of the relationships it establishes with stakeholders and the contribution it brings to local communities as a socially responsible company.