Petrobras exploration permit surrender accepted
exploration permit surrender accepted
accepted international oil company Petrobras’ application
to surrender its exploration permit for the Raukumara
The Brazil-based company gained a permit in
June 2010 to explore the basin off the East Coast of the
North Island and during its exploration gathered 3,305
kilometres of 2D seismic data over the permitted area.
Petrobras had an option to surrender the permit after
gathering this information and has opted to take up this
“This is a commercial decision, based on a
number of factors including how the company will be
prioritising its oil and gas exploration portfolio
worldwide,” MBIE Director Petroleum Kevin Rolens says.
“The Raukumara Basin is considered to hold high
potential for oil and gas development, and is an important
frontier basin for future oil and gas exploration activity
in New Zealand. It is a relatively unexplored area, where no
commercial activity had previously been undertaken and I
expect that the data will be of interest to other companies
exploring in New Zealand.
“The work Petrobras has
done has added to the information regarding the potential
for oil and gas projects in the region and will be freely
available for other companies wanting to explore.”
For more information visit New Zealand Petroleum &
Minerals’ online exploration database at https://data.nzpam.govt.nz/GOLD/system/mainframe.asp.
© Scoop Media
Gordon Campbell: On The 2013 Budget
Among Thursday’s main talking points:
We are apparently on track for a margin-of-error $75 million surplus, now in sight for 2014/15. But this sickly creature is hobbling out of the lab on the basis of all kinds of facilitative conjuring: such as trimming by $200 million the amount of new spending next time around.
With this strictly nominal surplus in sight, the 1984-ish justification for eternal austerity will have a news talisman: namely, getting Crown debt down to 20% of GDP by 2020. More>>
Budget Report, Lockup Audio & Images: Budget Day 2013 As always and especially after the managerial mishaps of the past few weeks and months, (e.g. Aaron Gilmore, the Mighty River Power share float, the GCSB mishaps) Budget Day 2013 was always going to be a pageant of reassurance... More>>
Budget 2013 Comment: Plain Sailing, But It's No America's Cup Pattrick Smellie: Compared to the last four budgets, this year's reflects an economy moving out of recession and into calmer waters... Yet if the fastest annual growth rate we can expect over the next two years is 3 percent - with the Christchurch rebuild in full swing - then you'd have to say New Zealand's underlying low-growth problem is far from fixed. More>>
Auckland Discord: Govt’s Power Hungry Housing Approach A Threat - Labour
Last week the Government said this, ‘The Government commits not to use any proposed or existing powers ... to override the council's planning and consenting processes’. But its housing Bill says this; ‘If an accord cannot be reached in an area of severe housing unaffordability, the Government can intervene by establishing special housing areas and issuing consents for developers’. More>>
Extending Protest Ban, Relaxing Permit Rules: Govt Abuses Urgency To Extend Anadarko Amendment
The Government is trying to pass legislation under urgency which would make the Anadarko Amendment – which limits protest at sea – apply to an additional 1.7 million square kilometres, the Green Party said today. More>>