Austria-based OMV has received a petroleum exploration permit to begin 2D and 3D seismic acquisition and reprocessing studies at the offshore Taranaki basin in New Zealand.

The work will be carried out over a period of 18 months and will be followed by a drill or drop commitment on 5 July 2013.

The prospect is located adjacent to PEP 51906, where OMV and Australia’s Octanex are conducting a 2D seismic survey.

OMV will use the same vessel used in PEP 51906 to conduct a 2D shoot in the PEP 53537 permit.

PEP 53537 is owned by OMV and Octanex, which hold stakes of 65% and 35%, respectively.