New Zealand Offers More Offshore Areas for Bidding in Block Offer 2015
New Zealand is making available seven areas, spread over 165,752 square miles (429,298 square kilometers) for petroleum exploration in the latest tender, with offshore acreage totaling 164,172 square miles (425,205 square kilometers) and onshore acreage occuplying the remaining 1,580 square miles (4,093 square kilometers), Energy and Resources Minister Simon Bridges revealed at the launch of Block Offer 2015 Monday.
The three onshore area being offered for exploration are:
- 15TAR-R2: located onshore Taranaki – 401 square miles (1,039 square kilometers)
- 15WEC-R1: located onshore West Coast – 775 square miles (2,007 square kilometers)
- 15WEC-R2: located onshore West Coast – 404 square miles (1,046 square kilometers)
The four offshore areas offered for exploration in the tender are:
- 15NRN-R1: located offshore Northland-Reinga – 71,885 square miles (186,181 square kilometers)
- 15TAR-R1: located offshore Taranaki – 21, 333 square miles (55,253 square kilometers)
- 15PEG-R1: located offshore Pegasus/East Coast – 16,994 square miles (44,015 square kilometers)
- 15GSC-R1: located offshore Great-South Canterbury – 54,732 square miles (141,757 square kilometers)
The tender will close Sept. 30, with permits for Block Offer 2015 likely be granted in December.
Block Offer 2015 is a continuation of the annual tender for local and foreign companies to bid for oil and gas exploration blocks that was introduced by the New Zealand government in 2012.
“In 2012 the Government introduced the Block Offer regime which provides an efficient and transparent process for oil and gas permitting, and each year has attracted investment from experienced and capable operators ... New Zealand has built a strong, world-class regulatory framework to provide for economic opportunities, while also ensuring the necessary environmental and safety protections. The process for awarding permits is rigorous," Bridges said.
“It is clear that companies are seeking frontier acreage and long-term opportunities like those which New Zealand has to offer, and this Government remains committed to attracting major international companies to invest in exploration and development in this country,” he added.
12
View Full Article
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Malaysia's InvestKL Woos Top Oil, Gas MNCs to Base in Kuala Lumpur
- Petrobangla Invites EOIs for 3 Offshore Exploration Blocks in Bay of Bengal
- Malaysia's SapuraKencana Posts 7.1% Gain in 2Q FY17 PAT to $27M
- TH Heavy Engineering, McDermott End Partnership in Malaysia
- Singapore's NUS Slowly Builds its Petroleum Engineering Program
- ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron
- Oil Market Sentiment Has Improved Significantly
- EU, US Eye Collaboration on Nuclear Materials
- EU Electricity Export to Ukraine Up 94 Percent in Two Years
- China Coal Output Falls for First Time since Government Ordered More
- USA Driving Activity to Increase to All-Time Highs
- BP Pulse Buys One of Europe's Largest Truck Stops
- UK CCUS Plans Outdated: Think Tank
- TC Energy to Sell Prince Rupert Gas Pipeline Project to First Nation
- I Squared Eyes Full Ownership of Europe Gas Storage Firm
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- Rystad Looks at the Buzz Around White Hydrogen
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension