New opportunities for oil and gas exploration open
23 September 2008 Media Statement
Embargoed until Tuesday
23 September, 6.00am
New opportunities for oil and gas exploration open
New opportunities for oil and gas
exploration are opening up for Taranaki, Canterbury,
Northland, and the East Cape of the North
Island.
Following his announcement of nine new onshore
Taranaki exploration permits, Associate Energy Minister
Harry Duynhoven today announced that oil and gas
acreage
currently reserved across the offshore Taranaki Basin and
the onshore and offshore Canterbury Basin are soon to be
opened.
The release of these areas with recognised petroleum potential means that recently relinquished acreage will be available for new potential explorers quickly. These areas will be open for “priority in time” (pre-notified) applications from 10 November 2008.
Planned blocks offer releases for deep water acreage in the Raukumara (East Cape) and Northland basins are also well advanced. These releases will be supported by significant Crown-funded data packs and are expected to be opened for assessment before Christmas.
"The response we received to the Taranaki blocks offer shows there is strong interest in exploration in New Zealand.
"The combined effect of these offers continues the momentum to realise gas reserves for our domestic market and to discover potentially large oil and gas reserves in our deep water basins," Mr Duynhoven concluded.
ends