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NZ gas reserves grow
31 August 2010 - New Zealand's remaining natural gas reserves rose by 5.4% over the past year.
Sources: MED’s Energy Data File 2010 and Lindsay Clark
Total gas reserves for the year to 1 January 2010 rose to 2076 petajoules compared to 1970 PJ in the previous year to 1 January 2009.
The Kupe offshore gas field, which came into first production late in 2009, reported the largest increase in reserves – up to 265 PJ in the latest statistics from 188 PJ in the year to 1 January 2009.
Two substantial onshore gas fields Kowhai and Turangi, both operated by Greymouth Petroleum have also been separately listed for the first time. Kowhai contains 7%, and Turangi 8% of the nation’s gas reserves.
Exploration and development activity remained at high levels in 2009 with 37 wells drilled – the largest number since 2007 when a record 43 wells were drilled.
Offshore well drilling decreased from 18 wells in 2008 to 8 in 2009. Onshore drilling almost doubled increasing from 16 wells in 2008 to 29 in 2009, with coal seam gas wells accounting for 19 of these in the latest year.
Expenditure on development in mining permits rose to $1.2 billion in 2009 from $963 million in 2008. However spending in exploration permits fell to $191 million in 2009 from $314 million the previous year.
For the full detailed report see the New Zealand Energy Data File 2010 on the MED website.
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