New Zealand Offers 23 Oil, Gas Blocks for Exploration

The Government of New Zealand has opened tenders for exploration on 23 oil and gas blocks, mainly offshore. These blocks consist of 40,000 sq km of offshore seabed and more than 3300 sq km of land in Waikato, Taranaki, Tasman, the West Coast and Southland.

Interested companies will have to time till October to submit work program.

The tender process follows consultation with iwi and local authorities over the proposed blocks. 

David Binnie, general manager of New Zealand Petroleum & Minerals which is managing the tender process, said the blocks had been selected because of the likelihood they contained significant quantities of oil and gas.