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NEW ZEALAND

JV partners absorb Tui interest

MITSUI has decided to pull out of the Tui area oil prospect, with the company's 35% interest being split between remaining joint venture partners.

Bianca Bartucciotto

The company has divested its interest in the prospect to New Zealand Oil & Gas, AWE and Pan Pacific Petroleum for a total of $US15 million. AWE as the operator will take a 15% interest from Mitsui for...

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