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

 


2014 Oil and Gas Block Offer released

Hon Simon Bridges

Minister of Energy and Resources


2 April 2014 Media Statement
2014 Oil and Gas Block Offer released

Energy and Resources Minister Simon Bridges today launched the third annual Block Offer foroil and gas exploration.

“In 2012 the Government introduced the Block Offer regime which provides an efficient, predictable and transparent process for oil and gas exploration permitting.

“The new regime has attracted world-class international operators to New Zealand, and we believe the 405,000 square kilometres released for tender this year will be similarly attractive,” Mr Bridges says.

The following areas are open for bidding in 2014:

• three onshore release areas in the East Coast Basin, Taranaki Basin and West Coast Basin

• five offshore release areas in the Reinga-Northland Basin, Taranaki Basin, New Caledonia Basin, Pegasus-East Coast Basin, and Great South-Canterbury Basin

“This year’s Block Offer is supported by a comprehensive data pack, which includes some previously unavailable data. The data pack provides companies with timely and accessible information to support decisions about investment in New Zealand,” Mr Bridges says.

“New Zealand has built a strong, world-class regulatory framework to provide economic opportunities, while also ensuring the necessary environmental protections.

“The process for awarding permits is rigorous, and the Government expects companies to clearly demonstrate their technical and financial capability to deliver their proposed work programme and meet our high health and safety, and environmental requirements.

“Oil is our 4th largest export, with a value of around $1.8 billion in 2012. The Government receives around 42 per cent of the profits, or approximately $700 million each year. This money is invested back into our communities in key infrastructure projects like schools, roads and hospitals.

“But we have barely scratched the surface of our potential.

“If just one more of our 18 basins was opened for production, like Taranaki, it would be an economic game-changer for our nation.

“That is why the Government will continue to work hard to attract major international companies to invest in petroleum exploration and development in New Zealand,” Mr Bridges says.

The areas made available for bidding follows consultation with iwi, hapū and local authorities.

The tender will close at 5pm (NZT) on 25 September 2014. Permits will be awarded in December 2014.

More information on the release areas and the Block Offer process is available atwww.nzpam.govt.nz


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Labour: Healthy Homes Bill Passes First Reading

Some of New Zealand’s most vulnerable children and families are on their way towards safer living conditions with the passing of the first reading of the Healthy Homes Guarantee Bill in Parliament last night, Leader of the Opposition Andrew Little says. More>>

ALSO:

Werewolf Satire: Home, And A Way

The one thing even more popular than an Auckland house is offering advice on how to afford an Auckland house. So, on the grounds it can’t be worse than some of the stuff that’s out there, here’s my three cents* worth. [*Up 50% since 2013!] More>>

ALSO:

Werewolf: The Defence Pretence

Last year, the world began spending more money on weapons again, for the first time since 2011... New Zealand belongs to a region – Asia and Oceania – where military spending rose sharply in 2015, by 5.4 per cent. More>>

ALSO:

Gordon Campbell: On Not Crying Foul, Argentina

So a couple of guys found to be criminally liable of environmental pollution in Argentina lodge an application with the Overseas Investment Office… in order to buy some prime New Zealand rural land. Seems that their factory back home had carelessly and/or intentionally discharged toxic waste into the Lujan river. Bummer... More>>

ALSO:

Urban & Rural: $303m To Merge And Modernise New Zealand’s Fire Services

Internal Affairs Minister Peter Dunne today announced funding of $303 million over five years to combine urban and rural fire services into one organisation from mid-2017. More>>

ALSO:

High Trust Regime: What Did The PM Tell His Lawyer About Foreign Trusts?

The Government stopped the IRD from reviewing New Zealand foreign trusts shortly after the Prime Minister’s lawyer wrote to the Revenue Minister claiming John Key had promised him the regime would not be changed. More>>

ALSO:

Road Crime: Wicked Campers Vans Classified As Objectionable

The definition of publication includes any "thing that has printed or impressed upon it, or otherwise shown upon it, 1 or more (or a combination of 1 or more) images, representations, signs, statements, or words", The Classification Office has previously classified such 'things' as billboards, t-shirts, and even a drink can. This is the first time the Classification Office has classified a vehicle. More>>

ALSO:

'When New' Repairs: Landmark EQC Settlement

The Earthquake Commission has cut a deal with 98 Canterbury homeowners that affirms the government entity's responsibility to repair earthquake-damaged property to a 'when new' state, as well as covering repairs for undamaged parts of a property and clarifying its position on cash settlement calculations. More>>

ALSO:

Gordon Campbell: On Kiwirail’s Latest Stint In The Dogbox

The denigration of Kiwirail continues. The latest review (based on a 2014 assessment) of the options facing the company have enabled Kiwirail to be hung out to dry once again as a liability and burden on the taxpayer. More>>

ALSO:

Royal Society Report: Good Opportunities To Act Now On Climate Change

There are many actions New Zealand can and should take now to reduce the threat of climate change and transition to a low-carbon economy, a report released today by the Royal Society of New Zealand finds... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news