New Zealand has launched its 2016 block offer petroleum tender with four offshore, and one onshore areas up for grabs.
Image from Awe.
The four offshore release areas, with a total acreage of 525,515sq km, are located in the Reinga-Northland basin, Taranaki basin, Pegasus and East Coast basins, and Great South-Canterbury basin. The onshore release area, at 1062sq km, is in Taranaki.
“Since it was first introduced in 2012, the annual block offer has provided an effective way for the government to strategically manage how we allocate petroleum exploration permits. It creates consistency for industry while ensuring we are attracting highly capable companies,” New Zealand Energy and Resources Minister Simon Bridges said.
The acreage includes:
The tender will close on 7 September 2016. The outcome of the tender will likely be announced in December 2016.
In the 2015 block offer, New Zealand awarded nine oil and gas exploration permits: three onshore and six offshore.
OMV NZ was awarded four offshore permits, and both Todd Exploration and Mont D’Or Resources won one offshore permit each. Petrochem Ltd. won all three onshore permits,
Since 2012, New Zealand’s government has granted 44 exploration permits throughout New Zealand by way of the annual block offer.
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