Parliament

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

 

Heatley: Block Offer 2012 Awards Ceremony

Phil Heatley

11 December, 2012

Block Offer 2012 Awards Ceremony

Welcome to the Block Offer 2012 Awards Ceremony.

It’s a great pleasure to be hosting this event to award the permits from the Government’s first annual Block Offer.

In August last year we announced the move to an annual block offer process and the abolition of the Priority in Time permits.

Block Offer 2012 areas have now been consulted on, tendered, carefully considered, and today, permits are being awarded to the strongest bids and to those companies most capable of delivering their proposed work programmes.

As a Government we have set some set ambitious economic goals for New Zealand.

Building a more competitive and productive economy is one of four main priorities of this Government – and the petroleum sector is an important part of achieving that goal.

Already we have a sector that makes a significant contribution to the economy. Crude oil is our fourth largest commodity export. Nationally, the sector provides well over 7,000 jobs and injects $2 billion into our economy.

Maximising the potential of our oil and gas resources is a key part of the Government’s Business Growth Agenda.

The Taranaki Basin and frontier basins, where discoveries will support the economy in the future, are now being promoted through the Block Offer process, with a range of opportunities across multiple basins offered in 2012.

Naturally we’re very pleased at the strong interest in the tender. It shows that New Zealand is becoming a key destination for both domestic and international investment in oil and gas exploration.

Today, investment in New Zealand is about to receive a significant boost, with the award of 10 exploration permits, and an overall committed work programme expenditure of $82 million, including firm commitments to 10 new wells in Taranaki.

If that work is successful, it could lead to further expenditure of up to $776 million within five years.

Key successes of Block Offer 2012 are:

• a new international player, East West Petroleum, who have partnered with TAG Oil subsidiary Cheal on three permits in the Taranaki Basin – welcome East West!

• the opening of the previously unexplored Pegasus Basin

• a further commitment to exploration of the Great South Basin

• continued firm interest in Taranaki.

The aim is for New Zealand to have an economically sustainable industry that supports the local economy and our international competiveness for the foreseeable future – and Block Offer 2012 is a long step in the right direction.

The success of 2012 is something we expect to repeat in 2013 and annually thereafter.


ENDS


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

An Open Letter To Readers: Crunch Time For Scoop.co.nz

Scoop provides two quality professional services for free to 1000s of NZ businesses and organisations:

#1. Reliable easily accessible access to professionally curated news intelligence information in real time;

#2. Free open access to publish press releases in a high profile manner.

It is now Crunch Time for Scoop.co.nz. With less than 2 weeks to go Scoop needs $23,500 in sales and donations to reach its PledgeMe Crowd-funding and Crowd-Selling target. For Scoop’s professional users it is also Crunch Time, and time to make a decision. More>>

Pledge In Scoop's Crowdsale and Crowdfunding Campaign!

 

Two Weeks Of Strikes: Midwives Kick Off Industrial Action

DHB-employed midwives are striking for two hours, twice a day, over a two-week period through to 5 December. In all, 540 strike notices have been issued by MERAS, the midwives’ union, to the 20 DHBs. More>>

ALSO:

Gordon Campbell: On NZ’s Complicity In Western Sahara

If David Parker really wants to hone his crisis-managing chops on an international trade dispute that New Zealand has been making worse for years, he maybe should be turning his attention to the Western Sahara... More>>

Gordon Campbell: On Malaysia Exposing Our Dodgy Policies On China

Last week, we all owed a vote of thanks to Malaysian PM Mahathir Mohamad for breaking with protocol during his bilateral with Jacinda Ardern. Reportedly, Mahathir used the photo opportunity phase of the meeting to launch into matters of genuine substance. More>>

ALSO:

Withdrawls After Police Uniform Ban: Auckland Pride Remains Committed

The Auckland Pride Board remains committed to creating a space for our rainbow communities to feel safe celebrating their gender and sexual identity, despite some institutions pulling out from the Parade in recent days. More>>

ALSO:

South Korea: State Visit By Korean President Moon Jae-In

The President of the Republic of Korea Moon Jae-in will visit New Zealand from 2 to 4 December... “I am very much looking forward to welcoming President Moon to New Zealand,” said Jacinda Ardern. More>>

ALSO:

Health: Changes To Drinking Water Standards

David Clark said many of the changes he is making, which will take effect on 1 March 2019, are clarifications or corrections, “but there are two changes which will significantly improve the ability to test and respond to the presence of harmful bacteria such as E.coli”. More>>

ALSO:

IPCA: Police Detention "Unlawful But Reasonable"

The Independent Police Conduct Authority has found that while Police acted unlawfully in October 2017 when they detained a Queenstown man for a mental health assessment, their actions were reasonable in the circumstances. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels