New Zealand has opened eight release areas, both on- and offshore, totaling more than 481,730sq km of exploration acreage.
The New Zealand Petroleum and Minerals (NZP&M) Minister Judith Collins revealed five offshore, two onshore and one permit that stradles both on- and offshore acreage in the tender.
The offshore acreage, comprised of more than 475,000sq km, is in the Taranaki, Northland-Reinga, Pegasus - East Coast, Hawke Bay and Great South - Canterbury areas.
Onshore areas include Taranki and Southland areas. While the Taranki North release area holds acreage both on-and offshore.
Bidders will be assessed on proposed work programs, technical and financial capability to carry out that work, compliance history, and likely ability to meet New Zealand’s health, safety and environmental requirements.
Companies have until 6 September 2017 to make bids. The ministry expects to grant permits in December 2017.
The acreage being tendered is:
Map of the 2017 tender, from NZP&M.
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