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

 

PARLIAMENT TODAY:

  • Second Readings To Continue
  • House Rises Interrupting RNZ Bill
  • Standards Bill Progresses
  • Controversy Over Non-Controversial Bill
  • Questions and Answers – May 19
  • Parliament Today 19-05-15
  • Environmental Reporting Bill Progresses
  • Access Week in Parliament 19-05-15

  • TPPA: University Of Auckland Warns Of Negative TPP Impact

    The University of Auckland May 20, 2015 University of Auckland Warns of Negative TPP Impact With the Trans Pacific Partnership (TPP) negotiation drawing to a close, the University of Auckland has expressed serious concerns about its potential implications. ... More>>

    NZ Flag: Flag Referendum Gets Hit Hard In New Poll

    The latest Campbell Live text poll confirms it is time for the Prime Minister to listen to the public and shelve his flag referendum, says the New Zealand First Leader Rt Hon Winston Peters. More>>

    Gordon Campbell: The Government’s Belated Moves On Property Speculation

    Is it a property tax on capital gains or a capital gains tax on property? The Jesuitical distinctions in the government’s spin about its latest moves on property speculators are all about whether the government can claim that it jumped, or confess that it ... More>>

    Grant Robertson:
    Key Can’t Just Be Prime Minister For Parnell

    John Key must show New Zealanders in next week’s Budget that he is more than the Prime Minister for Parnell, and is also the Prime Minister for Pine Hill, Putararu and Palmerston North, Labour’s Finance spokesperson Grant Robertson says. In a ... More>>

    Labour Party: More Regional Jobs Go In Corrections Reshape

    News that 194 Corrections staff are to lose their jobs will have ramifications not only for them and their families but for the wider community, Labour’s Corrections spokesperson Kelvin Davis says. Prison units at Waikeria, Tongariro and Rimutaka ... More>>

    ALSO:

  • NZ First - Prison Job Losses to Send Money Offshore
  • TPPA: ‘Team Obama’ Regroups On Fast Track, Still Not Deliverable

    ‘After yesterday’s stinging and unexpected defeat for the Obama administration’s attempt to advance Fast Track legislation in the US Senate, Senate leaders have worked up a compromise they think will get them past this blockage’, according to Auckland ... More>>

    NZ Government: 5,500 More Doctors And Nurses In Our Hospitals

    Health Minister Jonathan Coleman says a record number of doctors and nurses are working in District Health Boards across the country. More>>

    Controller and Auditor General: Katherine Rich Conflict of Interest Decision

    We are writing to you about a matter that has been raised with us by members of the public. More>>

    ALSO:


    Budget 2015: Andrew Little On The 2015 Budget

    Speaking to the Chamber of Commerce, the Labour opposition leader attacked the government’s approach to economic issues facing New Zealand. He said they have been “more than reckless in their complacency” and “the next week’s budget will do nothing ... More>>

    Defence Force: NZDF Building Partner Capacity Mission Personnel In Iraq

    NZDF Building Partner Capacity Mission Personnel in Iraq The New Zealand Defence Force Building Partner Capacity training mission contingent is in place at Taji Military Complex in Iraq. The Chief of Defence Force Lieutenant General Tim Keating says the ... More>>

    PM Press Conference: ACC Levy Cuts Announced

    In a press conference this afternoon in Wellington, ACC Minister Nikki Kaye proposed $500 million worth of ACC levy cuts. More>>

    Quakes: New Process For Red Zone Crown Offers

    Canterbury Earthquake Recovery Minister Gerry Brownlee has announced a process to give everyone a say on the Crown offers to owners of vacant, commercial/industrial and uninsured properties in the Residential Red Zone. More>>

    ALSO:

    Gordon Campbell: On The Battle Obama Is Waging Over The TPP

    For the past two and a half years, this column has been arguing that the fate of the Trans Pacific Partnership (TPP) deal will hinge on whether US President Barack Obama can win Trade Promotion Authority (TPA) from Congress... Last week, the White House finally, finally unveiled a draft TPA Bill. More>>

    ALSO:


    Gordon Campbell: On lessons for Labour from the UK election
    If the polls were right – and the pollsters kept telling us how accurate they’d been in 2010, and even Nate Silver was getting the same results – there seemed no way that the British Labour Party could lose last Thursday’s British election. With Labour predicted to win around 270 seats and the Scottish National Party batting around 55-60 seats, Labour seemed to be home free. But…as we now know, things didn’t turn out that way. Labour ended up with 232 seats and the Conservatives swept back to power with an outright majority, after winning only a little more than a third ( 36.9%) of the votes cast.MORE >>
    Also.

  • NZ PM John Key - PM congratulates David Cameron after UK election
  • The Nation IV Transcript - Hack Attack author Nick Davies
  • Get More From Scoop

     

    LATEST HEADLINES

     
     
     
     
     
     
     
     
     
    Parliament
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news