Crown Minerals Closes PIT Petroleum Applications

New Zealand Crown Minerals has closed the Great South Basin and Canterbury Basins for priority in time (PIT) petroleum permit applications until further notice.

Any land within this area for which a permit is revoked, surrendered or otherwise terminated, or in which an application filed before the date of this notice is withdrawn or declined, also will be unavailable for PIT applications.

The Great South Basin lies offshore from the coast of Southland and south Otago, and at over 500,000 square kilometers is one of New Zealands largest petroleum basins (covering an area 1.5 times New Zealands land mass). The current area of awarded permits covers 18% of the basin.

A basin of about 55,000 square kilometers extending from the Canterbury Plains out to an offshore region east of the South Island.