Another global oil major has delayed its decisions to drill in the unfriendly waters of the Great South Basin at the bottom of New Zealand, the second firm to do so.

Yesterday, OMV, owned by the Austrian Government, revealed that Government agency Crown Minerals had been granted, along with its joint venture partner, an extra year in order to reach a decision on whether they would drill exploration wells in the area or not.

Now, the decision by the OMV led joint venture, which was otherwise expected by July this year, would be pushed further back.

Oil giant ExxonMobil was also granted an extension in October 2009, which means that the titan would now be sending in a decision by October next year, and start the actual drilling within the following year.

"I think it's not the death knell of the Great South Basin. As far as I can see it's people being prudent and taking their time to get it right. It's a hell of a lot of money if you screw up", said Acting Executive Officer of the Petroleum Exploration and Production Association Mike Patrick.