Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


TAG Oil Welcomes Drilling Consents

TAG Oil Welcomes Drilling Consents

Media Statement 18 March 2013

For immediate


TAG Oil said today it was striving to leave the smallest possible environmental footprint in any oil and exploration work it undertakes on the East Coast.

Chief Executive Garth Johnson said TAG has long believed the region could hold significant oil and gas reserves

Mr Johnson said the two exploratory wells which have today been approved by Horizons Regional Council are the next step in an extensive work programme to determine what oil and gas reserves actually exist.

“These two wells are conventional vertical wells that will not be fracked.

“The aim is to drill straight down into an area of interest to determine what is there,” he said.

Mr Johnson said TAG Oil has four sites which are safely producing oil and gas in Taranaki.

“We will carry out all work on the East Coast in the same careful, methodical and safe way that we have worked in Taranaki for over a decade,” he said.

Mr Johnson said work would start immediately to meet permit conditions set down by New Zealand Petroleum and Minerals.

--

*************

Since these consents were lodged Apache Corporation has ended its involvement in New Zealand and Tag Oil now has a 100% stake in the permits in question. Tag Oil’s New Zealand subsidiaries will be conducting these drilling operations.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Housing Policy: Auckland Densification As Popular As Ebola, English Says

Finance Minister Bill English said calls by the Reserve Bank Governor for more densification in Auckland’s housing were “about as popular in parts of Auckland as Ebola” would be. More>>

ALSO:

Crown Accounts: NZ Government Deficit Smaller Than Expected In First Half

The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in previous months. More>>

ALSO:

Fruit & Veg Crackdown: Auckland Fruit Fly Find Under Investigation

The Ministry for Primary Industries (MPI) is investigating a find of a single male Queensland fruit fly in a surveillance trap in the Auckland suburb of Grey Lynn... MPI has placed legal controls on the movement of fruit and some vegetables outside of a defined circular area which extends 1.5km from where the fly was trapped in Grey Lynn. More>>

ALSO:

Scoop Business: Westpac NZ Reaches $2.97M Swaps Settlement

Westpac Banking Corp’s New Zealand unit has agreed to pay $2.97 million in a settlement with the Commerce Commission over the way the bank sold interest rate swaps to farmers between 2005 and 2012. More>>

ALSO:

Going Dutch: Fonterra Kicks Off $144M Partnership With Dutch Cheese Maker

Fonterra Co-operative Group, the world’s largest dairy exporter, has commissioned a new dairy ingredients plant in Heerenveen, in the north of the Netherlands, its first wholly-owned and operated ingredients plant in Europe. More>>

ALSO:

Scoop Business: NZ Retail Sales Beat Estimates

New Zealand retail sales rose more than expected in the fourth quarter, led by vehicle-related transactions, food and beverages, adding to evidence that cheap credit and a growing jobs market are encouraging consumers to spend. More>>

ALSO:

Delivery Cuts Go Ahead: 'Government Money Grab' From NZ Post

"It's a money grab by the Government as the shareholder of New Zealand Post" says Postal Workers Union advocate Graeme Clarke about the changes announced by NZ Post. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news