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NZ Petroleum News for March 2005 - Crown Minerals

NZ Petroleum News for March 2005 - Crown Minerals

31 March 2005 - Issue 76

This month saw the formal announcement of the 2005 Offshore Outer Taranaki block offer. The announcement follows a package of exploration incentives from the Government last year which included a budget for the acquisition of seismic data to support Government blocks offers for petroleum exploration permits.

Acquisition of data from the Outer Taranaki basin was identified as a high priority because of the proven petroleum systems within the basin, and the speed with which any discoveries could be brought into production. For more information on the block offer visit www.crownminerals.govt.nz/petroleum/blocks

Recently the Energy Minister Trevor Mallard and Associate Energy Minister Harry Duynhoven welcomed the arrival of the vessel "Pacific Titan" to New Zealand - the ship which will complete the government-funded seismic survey off the North Island's East Coast. This is survey is well underway and you can keep up to date with progress at www.crownminerals.govt.nz/petroleum/seismic.html
Regards
Crown Minerals

In This Issue:

1. International interest expected in Offshore Outer Taranaki Blocks Offer
2. Acreage Opportunities in Taranaki Basin
3. Mitsui to take stake in west Maui PEP 38483 for large 3D seismic survey
4. Swift Energy forms exploration joint venture with Mighty River Power
5. North Taranaki Mangatoa gas prospect now estimated at 3 TCF
6. Tap to drill large potential Barque prospect off Oamaru
7. Swift Energy to spend about NZ$54m drilling 10-15 wells in 2005
8. Roc Oil plans to drill Totara prospect south of McKee
9. New Zealand Refining boosts profits by 200% on higher margins
10. Greymouth to drill deep onshore Taranaki well near Pohokura gas field
11. NGC transports more gas, even though own gas sales down
12.

International interest expected in Offshore Outer Taranaki Blocks Offer

New Zealand's growing international appeal as an exploration destination is expected to result in strong international bids for the Offshore Outer Taranaki basin the Associate Minister of Energy, Hon Harry Duynhoven said.
Full Story
top


Acreage Opportunities in Taranaki Basin

Westech Energy New Zealand is accepting bids for its entire interests in Petroleum Exploration Permits PEP 38732, PEP 38745 and the pending Petroleum Mining Permit for the Windsor Field.
Full Story


Mitsui to take stake in west Maui PEP 38483 for large 3D seismic survey

Japanese-based exploration and production company Mitsui E&P New Zealand Ltd plans to take a larger stake in the West Maui oil fairway in offshore Taranaki.
Full Story


Swift Energy forms exploration joint venture with Mighty River Power

Downstream electricity generator and retailer Mighty River Power has formed a joint venture with US-based Swift Energy New Zealand Ltd to initially drill three wells in 2005 on the Tarata Thrust area of onshore Taranaki.
Full Story


North Taranaki Mangatoa gas prospect now estimated at 3 TCF

An offshore north Taranaki gas prospect being evaluated for drilling by New Zealand Oil & Gas Ltd (NZOG) and Origin Energy could have reserve potential of as much as 3 trillion cubic feet of gas, NZOG said in its December quarter 2004 report.
Full Story


Tap to drill large potential Barque prospect off Oamaru

Perth-based Tap Oil Ltd has switched targets for its first Canterbury Basin well, Barque-1, to a large deepwater structure containing potentially 5 to 6 trillion cubic feet of gas and several hundred million barrels of condensate or oil.
Full Story


Swift Energy to spend about NZ$54m drilling 10-15 wells in 2005

Swift Energy New Zealand plans to increase its exploration activity in Taranaki by drilling between 10 and 15 wells in 2005.
Full Story


Roc Oil plans to drill Totara prospect south of McKee

Sydney-based Roc Oil Company Ltd plans to drill a well on its Totara prospect, between the McKee and Tariki fields onshore Taranaki, in November 2005.
Full Story


New Zealand Refining boosts profits by 200% on higher margins

Operator of the Marsden Point Oil Refinery, the New Zealand Refining Company Ltd, has reported a record after tax operating surplus of $97.5 million for the year to 31 December 2004 as a result of significantly higher world refining margins.
Full Story


Greymouth to drill deep onshore Taranaki well near Pohokura gas field

Auckland-based Greymouth Petroleum plans to drill the deep gas Turangi-1 well in PEP 38762 onshore Taranaki between the offshore Pohokura gas condensate field and the onshore Mangahewa deep gas field.
Full Story


NGC transports more gas, even though own gas sales down

NGC Holdings Ltd gas transportation volumes have shown steady growth despite the tighter gas market and rising commodity prices, chairman Michael Stiassny says in the company’s report for the six months to 31 December 2004.
Full Story


Email Crown.minerals@med.govt.nz
Website Www.crownminerals.govt.nz
Freephone (NZ only) 0508 CM ESTATE (0508 263 782)
International Calls +64 3 962 6179
Facsimile +64 4 499 0968
Physical Address 33 Bowen Street, PO Box 1473
Wellington, New Zealand

Disclaimer

Although information in this publication has been derived from sources believed to be reliable and accurate, no liability is accepted for any opinions expressed or for any errors or omissions. Readers should take specific advice before undertaking any action on the basis of this publication.


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