New Zealand Opens Block Offer 2016

New Zealand has opened the industry nominations for Block Offer 2016, Minister of Energy and Resources Simon Bridges announced Sunday.

Nominations should be on the basis of prospectivity and provide evidence to support the nomination. Nominations close on close 22 May, 2015.

New Zealand Petroleum & Minerals said it does not guarantee that nominated areas will be included in the proposed or final block selection of future Block Offers.

Parties that make a nomination are not obliged to bid on the area or areas they nominate. Proposed release areas will be selected based on prospectivity and likely commercial interest.

New Zealand Petroleum & Minerals will then consult with iwi, hapu and local authorities on the proposed release areas.

Final Block Offer 2016 release areas will be announced in early 2016.