NZ Government Awards 9 New Oil, Gas Exploration Permits

NZ Government Awards 9 New Oil, Gas Exploration Permits
New Zealand's Energy and Resources Minister Simon Bridges announces the award of 9 new oil and gas exploration permits as part of the country's latest licensing round, Block Offer 2015.

New Zealand’s Energy and Resources Minister Simon Bridges announced Wednesday the award of nine new oil and gas exploration permits as part of the country’s latest licensing round, Block Offer 2015.

Block Offer 2015 includes three onshore permits and six offshore permits, all in the Taranaki Basin. Collectively, the permits include a committed work program expenditure of $4.4 million, and a potential spend of more than $364 million if all contingent work is realized. OMV NZ Limited received four offshore Taranaki permits, in partnership with Mitsui E&P Australia Pty Limited, and Todd Exploration was awarded one offshore Taranaki permit. Mont D’Or Resources Limited also claimed one offshore Taranaki permit and the remaining three onshore permits were taken by Petrochem Limited.

Bridges commented in a government statement:

“Over the past three years, the Block Offer process has successfully increased petroleum exploration investment. Block Offer 2015 consolidates these gains and confirms what the industry already knows – that the potential for Taranaki is far from reached.

“The exploration industry is now far more sensitive to budgets in the global context of a low oil price.  But the sector is enduring and resilient.  They remain attracted to the quality and varied investment New Zealand has to offer. The award of exploration permits today is another step toward unlocking New Zealand’s oil and gas potential, both on and offshore.”

Have a news tip? Share it with Rigzone!


Click on the button below to add a comment.
Post a Comment
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.


Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at
 -  MEO Australia Seeks Shareholder Approv... (Sep 28)
 -  Karoon Buys PEPC's 35% Stake in 4 Sant... (Sep 28)
 -  China's Wison Completes Test of World'... (Sep 28)
 -  DNV GL Reviews 100 Rigs as part of Saf... (Sep 28)
 -  Farstad Shipping Sells AHTS Lady Sandr... (Sep 27)

Most Popular Articles

From the Career Center
Jobs that may interest you
United States San Antonio: Account Manager
Expertise: Business Development|Sales
Location: San Antonio, TX
United States Houston: Product Compliance Manager
Expertise: Regulatory Compliance
Location: Houston, TX
Global Privacy Manager
Expertise: Risk Management
Location: Houston, TX
search for more jobs

Brent Crude Oil : $48.69/BBL 5.91%
Light Crude Oil : $47.05/BBL 5.32%
Natural Gas : $2.952/MMBtu 1.60%
Updated in last 24 hours