Bidding Rounds Planned for Offshore Northland & N. Taranaki

Prior to the award of the Northland offshore PEP 38602 permit appraisal extension in March 2003, the Associate Minister of Energy, the Hon. Harry Duynhoven, set aside the remaining area of the offshore Northland Basin for a future Northland exploration permit bidding round.

The Northland round is likely to be advertised in late 2003 or early 2004.

Another permit bidding round, announced by Mr. Duynhoven in 2002 and likely to be advertised in late April 2003, will be held over unpermitted areas of onshore Taranaki and offshore northern Taranaki.

The Taranaki offshore blocks include the area immediately south of Karewa-1, the area north and west of the Pohokura gas-condensate field, and the unpermitted area north of the recent Tui-1 oil discovery.

The north Taranaki offshore area includes the Kora-1 oil discovery of the late 1980s which did not prove to be economic at that time.