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

 

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Warming: Warming Signs From State Of Climate Report

Climate data from air, land, sea and ice in 2013 'reflect trends of a warming planet' -- says the latest State of the Climate report, launched by U.S. and New Zealand scientists. More>>

ALSO:

Scoop Business: Embrace Falling Home Affordability, Says NZIER

Despair over the inability to afford a house is misplaced and should be embraced as an opportunity to invest in more wealth-creating activity, says the principal economist at the New Zealand Institute of Economic Research, Shamubeel Eaqub. More>>

Productivity Commission: NZ Regulation Not Keeping Pace

New Zealand regulators often have to work with out-of-date legislation, quality checks are under strain, and regulatory workers need better training and development. More>>

ALSO:

Callaghan Innovation: Investment To Help Deepen Innovation Reporting

Callaghan Innovation, the government’s high tech HQ for Kiwi business, is to help deepen New Zealand media coverage of the commercialisation of innovation through an arms-length partnership with independent business news service BusinessDesk. More>>

ALSO:

Tax Credits, Grants: Greens $1Bn R&D Plan

In the Party’s headline economic announcement, the Greens have launched their plan to build a smarter, more innovative economy which has as its centrepiece an additional $1 billion of government investment in research and development (R&D) above current spend, including tax breaks for business. More>>

ALSO:

Inflation: CPI Increases 0.3 Percent In June Quarter

The consumers price index (CPI) rose 0.3 percent in the June 2014 quarter, Statistics New Zealand said today. This follows rises of 0.3 percent the March quarter and 0.1 percent in the December 2013 quarter. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

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