New Zealand Announced Grant of Nine New Petroleum Exploration Permits

New Zealand has announced nine new petroleum exploration permits granted for Block Offer 2015.

Energy and Resources Minister Simon Bridges said permits include three onshore permits and six offshore permits, all in the Taranaki Basin.

The total acreage of the permits for Block Offer 2015 is 12,111 sq kms. Collectively the nine permits include a committed work programme expenditure of $4.4 million, with the potential of more than $364 million if all contingent work is realised. Permit work programmes include geological studies and/or seismic reprocessing.

The permits include: OMV NZ (four offshore permits, in partnership with Mitsui E&P Australia), Todd Exploration (one offshore permit), Mont D’Or Resources (one offshore permit) and Petrochem (three onshore permits).