New Zealand Awards Ten Oil, Gas Permits
New Zealand's Energy and Resources Minister Simon Bridges on Thursday announced the award of ten new oil and gas exploration permits as a result of Block Offer 2013.
The permits include five onshore permits across Taranaki and the East Coast and five offshore permits across the Reinga-Northland, Taranaki, and Great South-Canterbury Basins. Collectively the permits represent approximately $62 million in committed expenditure on initial exploration which, if successful, could lead to further exploration work worth up to $720 million.
Permits were awarded to
- Statoil Lambda Netherlands BV (new): One offshore Reinga-Northland permit
- Woodside Energy Holdings (new) and New Zealand Oil & Gas: Two offshore permits, Taranaki and Great South Basin South-Canterbury
- New Zealand Oil & Gas: One offshore Great South Basin South-Canterbury permit
- Octanex NZ: One offshore Taranaki permit
- AWE NZ & Mitsui: One onshore Taranaki permit
- TAG Oil NZ: One onshore Taranaki permit
- Eastern Petroleum & East West Petroleum: One onshore East Coast permit
- Petrochem: One onshore Taranaki permit
- Mont D’Or (new): One onshore East Coast permit.
“On conservative estimates the industry is expected to spend $600 million to $755 million. The Government is committed to developing our oil, gas and mineral resources in a sensible, safe and environmentally responsible way. Block Offer 2013 is delivering on that,' Bridges said.
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