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New Zealand Govt Awards 10 O&G Exploration Permits

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WELLINGTON - The New Zealand government said Tuesday that it has awarded 10 oil & gas exploration permits to local and overseas companies who had bid in Block Offer 2012.

"Strong interest in the Block Offer 2012 permitting round proves that New Zealand is a key destination for both domestic and international investment in oil and gas exploration," Energy and Resources Minister Phil Heatley said in a statement.

Among the companies that have won permits are Anadarko Petroleum Corp., OMV New Zealand, which is part of OMV AG, New Zealand Oil & Gas, Shell New Zealand, Todd Exploration, Cue Taranaki, Tag Oil and New Zealand Energy Corp.

Seven of the 10 blocks are in the Taranaki basin, on the west coast of the country's North Island and the most active oil and gas producing basin. Of the rest, two are in the Pegasus basin on the south of the North Island and one is in the Great South Basin, on the south of the country's South Island.

Copyright (c) 2012 Dow Jones & Company, Inc.

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