Greymouth Petroleum picks up Shell oil and gas field

By Campbell McIlroy

Friday 1st March 2002

Greymouth Petroleum has reached an agreement with Shell to buy Southern Petroleum Ohanga and Shell's interests in the Kaimiro oil and gas fields for an undisclosed sum. Mark Dunphy's vehicle, Greymouth, is best known for last year's bid to buy Fletcher Energy.

Despite losing out to Shell, Greymouth has benefited from the Fletcher sale by picking up some of the assets the Commerce Commission ordered Shell to dispose of.

In a statement Mr Dunphy said the company also hoped to attract a number of key former Fletcher Energy oil and gas professionals to join its Taranaki team. This latest acquisition still requires approvals and consents but Greymouth expects the deal to go through within the next 30 days.

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