Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Seismic survey for petroleum exploration

18 February 2005

East Coast seismic survey for petroleum exploration

Energy Minister Trevor Mallard today launched a major project by the government aimed at attracting oil and gas exploration investment in New Zealand - the first ever seismic survey off the North Island’s East Coast.

“This is an incredibly significant project. We are at a crossroads for exploration in New Zealand. As a “frontier” destination for exploration, competing against well-established petroleum economies in the Middle East and Africa, New Zealand had to take some innovative steps to attract exploration investment," Trevor Mallard said.

“This survey is the first of its kind under the $15 million fund established by the government last year as part of a package of incentives to lift exploration in New Zealand. By commissioning this and other surveys we have a unique opportunity to showcase the oil and gas potential of New Zealand, and to significantly reduce the cost of entry to New Zealand for new explorers.”

The survey will be conducted by Norwegian company, Multiwave Geophysical using the vessel “Pacific Titan” which is due to arrive in Wellington any day now. It will cover 100,000 sq. km off the East Coast, from Wairarapa to Bay of Plenty, and is expected to take four to six weeks, with the data expected to be released in July.

“Feedback from overseas explorers here and from those thinking about investing here suggests we are on the right track with this bold move.

"The East Coast has been chosen as the first petroleum basin to be surveyed because it's considered to be the region with the best potential and also the region which can be developed quickest outside existing production in the Taranaki basin.

“We have spoken with explorers who have come, or are seriously considering coming, to New Zealand and we have no doubt that opening up the frontier basins, supported by freely available seismic data, is the right combination to attract large scale exploration and, in turn, make a real difference to our energy future.

"Of course in the long term, a broader and more sustainable mix of energy options has to be developed to ensure New Zealand’s energy security. However, we must also be practical and ensure that there is continuity of supply during the transition from traditional energy sources, for the good of the economy.

"Domestic gas is a proven, flexible, and relatively efficient and clean energy source which is likely to be a key part of New Zealand’s energy mix for the foreseeable future," Trevor Mallard said.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Breed Laws Don’t Work: Vets On New National Dog Control Plan

It is pleasing therefore to see Louise Upston Associate Minister for Local Government calling for a comprehensive solution... However, relying on breed specific laws to manage dog aggression will not work. More>>


Corrections Corrected: Supreme Court Rules On Release Dates

Corrections has always followed the lawful rulings of the Court in its calculation of sentence release dates. On four previous occasions, the Court of Appeal had upheld Corrections’ practices in calculating pre-sentence detention. More>>


Not Waiting On Select Committee: Green Party Releases Medically-Assisted Dying Policy

“Adults with a terminal illness should have the right to choose a medically assisted death,” Green Party health spokesperson Kevin Hague said. “The Green Party does not support extending assisted dying to people who aren't terminally ill because we can’t be confident that this won't further marginalise the lives of people with disabilities." More>>


General Election Review: Changes To Electoral Act Introduced

More effective systems in polling places and earlier counting of advanced votes are on their way through proposed changes to our electoral laws, Justice Minister Amy Adams says. More>>

Gordon Campbell: On Our Posturing At The UN

In New York, Key basically took an old May 2 Washington Post article written by Barack Obama, recycled it back to the Americans, and still scored headlines here at home… We’ve had a double serving of this kind of comfort food. More>>


Treaty Settlements: Bills Delayed As NZ First Pulls Support

Ngāruahine, Te Atiawa and Taranaki are reeling today as they learnt that the third and final readings of each Iwi’s Historical Treaty Settlement Bills scheduled for this Friday, have been put in jeopardy by the actions of NZ First. More>>


Gordon Campbell: On The Damage De-Regulation Is Doing To Fisheries And Education, Plus Kate Tempest

Our faith in the benign workings of the market – and of the light-handed regulation that goes with it – has had a body count. Back in 1992, the free market friendly Health Safety and Employment Act gutted the labour inspectorate and turned forestry, mining and other workplace sites into death traps, long before the Pike River disaster. More>>

Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news