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

Gordon Campbell: On The Labour/Greens Deal (And The NZDF)

If Labour and the Greens were hoping their Budget Responsibility Rules (BRR) agreement would foster an unlikely alliance then hey… mission accomplished! Because it isn’t every day that Sue Bradford, the CTU and Matthew Hooton speak with one voice, as happened yesterday.

Unfortunately though, it’s hard to see how the BRR agreement will work to the advantage of Labour and the Greens in the context of the 2017 election campaign. More>>

 

Until After The Election: Extension Of Report-Back Date For Havelock North Inquiry

Attorney-General Christopher Finlayson announced today that the report-back date for the independent Inquiry into Havelock North Drinking-Water has been extended at the request of the Inquiry’s Panel. More>>

ALSO:

Little Heading For Court: Apology Over Donation/Hotel Contract Claims Not Accepted

Today I want to publicly apologise unreservedly to Mr Hagaman for any hurt, embarrassment or adverse reflection on his reputation which may have resulted from my various media statements. I have offered that apology to the Hagamans. More>>

ALSO:

Biscuit Tin Of Democracy: World Heritage Site Protection, Ombudsman and Equal Pay Bills Drawn

On Thursday, 23 March 2017 three places are available on the Order Paper for the first reading of a Member’s bill. The ballot was held, and resulted in the following bills being drawn... More>>

ALSO:

Emissions Plan: NZ Needs More Science, More Trees, Fewer Beasts

A combination of technology breakthroughs, much more plantation forestry, and a big switch away from pastoral, particularly dairy farming, are identified as the key elements of any approach New Zealand takes to reducing its carbon emissions to a net zero level, according to a new report sponsored by the New Zealand chapter of GLOBE, a multi-party, global parliamentary grouping. More>>

ALSO:

"Backed To Win Seats": Labour Māori Seat MPs Won't Stand On List

The Labour Party is backing a request from its Māori seat MPs to stand as electorate MPs only, says Labour Leader Andrew Little. More>>

OutsKey: John Key's Valedictory Speech

I rise to address this House for the very last time. It has been a huge privilege to have served the people of Helensville as their member of Parliament, and, of course, the people of New Zealand as their Prime Minister. More>>

ALSO:

Productivity Commission: New Models Of Tertiary Education Are Coming

The report is a broad-ranging inquiry into how well New Zealand’s tertiary education system is set up to respond to emerging trends in technology and the internationalisation of education, and changes in the structure of the population, and the skills needed in the economy and society... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news