Horizon Oil Limited is engaged in petroleum exploration, development and production. The Company operates in five segments: New Zealand development, New Zealand exploration, China exploration and development, PNG exploration and development and other segments. New Zealand development is engaged in producing crude oil from the Maari/Manaia fields, located offshore New Zealand. New Zealand exploration is engaged in the exploration and evaluation of hydrocarbons in two offshore permit areas, PEP 51313; and PMP 38160 Maari/Manaia. China exploration and development is engaged in developing and producing of crude oil from the Block 22/12-WZ6-12 and WZ12-8W oil field development and in the exploration and evaluation of hydrocarbons within Block 22/12. PNG exploration and development is engaged in the Stanley condensate/gas development, and the exploration and evaluation of hydrocarbons in six onshore permit areas, PRL 4, PRL 21, PPL 259, PPL 372, PPL 373 and PPL 430.
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