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

 

Tourism: China Southern Airlines To Fly To Christchurch

China Southern Airlines, in partnership with Christchurch Airport and the South Island tourism industry, has announced today it will begin flying directly between Guangzhou, Mainland China and the South Island. More>>

ALSO:

Dodgy: Truck Shops Come Under Scrutiny

Mobile traders, or truck shops, target poorer communities, particularly in Auckland, with non-compliant contracts, steep prices and often lower-quality goods than can be bought at ordinary shops, a Commerce Commission investigation has found. More>>

ALSO:

Auckland Transport: Government, Council Agree On Funding Approach

The government and Auckland Council have reached a detente over transport funding, establishing a one-year, collaborative timetable for decisions on funding for the city's transport infrastructure growth in the next 30 years after the government refused to fund the $2 billion of short and medium-term plans outlined in Auckland's draft Unitary Plan. More>>

ALSO:

Bullish On China Shock: Slumping Equities, Commodities May Continue, But Not A GFC

The biggest selloff in stock markets in at least four years, slumping commodity prices and a surge in Wall Street's fear gauge don't mean the world economy is heading for another global financial crisis, fund managers say. More>>

ALSO:

Real Estate: Investors Driving Up Auckland Housing Risk - RBNZ

The growing presence of investors in Auckland's property market is increasing the risks, and is likely to both amplify the housing cycle and worsen the potential damage from a downturn both to the financial system and the broader economy, said Reserve Bank deputy governor Grant Spencer. More>>

ALSO:

Annual Record: Overseas Visitors Hit 3 Million Milestone

Visitor arrivals to New Zealand surpassed 3 million for the first time in the July 2015 year, Statistics New Zealand said today. The record-breaking 3,002,982 visitors this year was 7 percent higher than the July 2014 year. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news