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

 


US company extends East Coast exploration efforts

Hon Harry Duynhoven
Associate Minister of Energy


20 October 2006
Media statement

US company extends East Coast exploration efforts

Associate Energy Minister Harry Duynhoven today announced that US company Pogo Producing has been given the go-ahead to extend their current oil and gas exploration permit on the East Coast of the North Island.

Pogo applied for an extension in order to follow leads identified in their existing East Coast permit. The company also has permits in offshore Taranaki as well as extensive interests in North America, Thailand and Vietnam.

"Increased investment by Pogo and other companies confirms that investment in oil and gas exploration in New Zealand remains strong," Harry Duynhoven said.

The extended permit provides for three exploration wells in the first five-year term of the permit, re-processing the existing 3800km of seismic data in the area, acquiring 2,000km of new 2D seismic data and up to $2 million in expenditure on additional geological and geophysical studies.

Harry Duynhoven said that while there are still petroleum basins in New Zealand to be promoted, a number are close to being fully permitted.

"The growing number of new exploration work programmes underway in offshore Taranaki, Northland and East Coast shows that the Labour-led government's focused efforts on stimulating investment in exploration in New Zealand are proving successful," Harry Duynhoven said.

In total, more than 100,000 square kilometres of new exploration acreage has been awarded to companies over the past two years.

"Both current and proposed levels of exploration activity mean that New Zealanders should feel optimistic that any big oil and gas deposits are now much more likely to be found," Harry Duynhoven said.

Mr Duynhoven also noted a high level of interest in the Great South Basin blocks offer, which closes on 31 March 2007.

The 40 blocks on offer are expected to attract strong international interest, including from the world's major oil companies.
Ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>

ALSO:

Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>

ALSO:

Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>

ALSO:

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news