We apologise for any inconvenience.

From 1 February 2012, Priority in Time (PIT) applications for petroleum exploration permits will no longer be accepted. Any PIT applications received after 30 August 2011 will not be considered (in accordance with section 22(2) of the Crown Minerals Act 1991).

• Minerals Programme for Petroleum (2005) Amendment (Priority in Time Removal) Order 2012 [601 kB PDF]
• Revised Minerals Programme for Petroleum (2005) [975 kB PDF]

Portfolio Management had a limited release at the AusIMM conference in 2011, allowing permit holders in attendance to sign up for the service. Thanks to all those who signed up and helped us to test the service. Portfolio Management is now being released for all permit holders and agents.

Want to sign up?

If you would like to take advantage of this service then head to Jump to Online Services on the top right of this screen and click Get User ID.

After filling in the required fields you will receive an email with your logon details and activation forms. Once you have completed the forms and returned them to us, we will activate your account and let you know.

Please note that the initial user is set up as a 'global user'. This global user can add logons for all other users within your company.

Agents, please note that you will be required to submit a completed 'Declaration of Authority to Act as Agent' form for each client you wish to access via this service.

Please see this Quick User Guide [571 kB PDF] for more information on how to use this service.

The latest Outlook provides an updated 'Reference Scenario' that models future energy use if business as usual continues in terms of broad economic drivers, current energy policy, and technology and fuel choices.

There is also an updated 'Sensitivity Analysis' that explores the sensitivity of the 'Reference Scenario' to changes in economic growth, oil price, carbon price and exchange rates.

Download the Energy Outlook 2011

Key highlights of this edition include:

Reference Scenario:

• New Zealand’s energy intensity improves 21 per cent by 2030.
• In 2030, renewable energy sources provide around 50 per cent of New Zealand’s primary energy supply.
• Consumer energy demand is projected to grow at around one per cent per annum over the next decade, lower than the 1.4 per cent per annum seen since 1990.
• Transport remains reliant on oil. Electric vehicles and biofuels remain minor players contributing less than two per cent of total transport energy demand in 2030.
• Energy sector emissions stabilise but remain around 40 per cent above 1990 levels out to 2030.
• Electricity demand increases over 25 per cent by 2030, but associated emissions are seven per cent lower than in 2010. Investment in new generation is dominated by geothermal and wind.
• Emissions from transport continue to grow but at a much slower rate than in the past.
• Wholesale electricity prices may need to increase one per cent above the rate of inflation out to 2030 in order to support investment in new electricity generation.

Sensitivity Analysis:

• Under the scenario for high economic growth, energy intensity falls to just over half that of 1990 by 2030.
• High oil prices improve the economics of oil and gas field development and this leads to increased gas supply in the 2020s.
• Sustained higher oil prices encourage the purchase of more fuel-efficient vehicles and a greater uptake of electric vehicles and locally produced biofuels.
• Emissions in 2030 are more than 50 per cent higher than 1990 levels in the high economic growth case.
• Emissions pricing of NZ$100 per tonne CO2-e reduces coal-fired electricity generation but total energy emissions are only marginally lower than in the Reference Case (with a NZ$25 per tonne CO2-e emissions price).
• A higher valued New Zealand dollar improves the economics of imported technology (for example, wind turbines) and results in lower wholesale electricity prices.
  

Background

New Zealand’s Energy Outlook 2011 is based on 2010 data, and forecasts forward from 2011. It is available free of charge and includes supporting information, data tables (in Excel), and supporting technical documents.

Download the Energy Outlook 2011

More energy publications

For more information please contact Tracy Dillimore, Senior Communications Advisor.

Email: Tracy.Dillimore@med.govt.nz

Phone: (04) 474 2194

Methanex is entering into a 10 year contract with Todd that enable it to restart the second methanol manufacturing train at its Motunui facility, north of New Plymouth.

Economic Development Minister Steven Joyce says the announcement is a positive start for a year which is forecast to be challenging for the world economy.

"This is a good example of why oil and gas development with suitable environmental protections forms part of our plan to build a stronger economy," says Mr Joyce.

"An assessment for Todd indicates this agreement may generate up to $1.2 billion in government revenue from royalties and taxes. That’s money we could put towards schools and hospitals to benefit all New Zealanders."

Energy and Resources Minister Phil Heatley says the Todd Corporation and Methanex New Zealand are well-established operators who have a track record of operating in Taranaki for decades.

"We want to encourage these types of well-managed developments to unlock our resource potential to benefit New Zealand."

"This deal highlights the oil and gas industry’s significant contribution to our economy. Venture Taranaki estimates the industry employs over 7,700 people and contributes $2.5 billion to the country’s GDP," says Mr Heatley.

Related links

More news - Petroleum Overview - Petroleum Action Plan

The Commission has also called for final written submissions from participants on any or all matters considered during the inquiry. These are due by 16 March.

A hearing has been scheduled starting on Monday 2 April in Greymouth to hear final submissions and feedback on policy issues. This is subject to the Commission being granted an extension to its reporting date.

"We are seeking information and views about the policy issues we need to address and on options for change," says Justice Graham Panckhurst, Chairperson of the Commission. "To help guide participants we have identified a series of questions for them to consider."

The questions relate to mining regulation and recognised practice, the interaction between mining and other legal requirements (including conservation and the environment) and the resourcing and administration a mining inspectorate.

The list of questions is available in Minute No.10.

"The Commission expects to seek expert advice on the policy issues, and will also hold discussions with parties most affected by particular policy aspects," says Justice Panckhurst.

"The final submissions hearing will provide an opportunity for both factual and policy questions to be debated in a public forum."

The policy and submission hearings will follow the resumption of hearings on 8 February looking into Phase Three entitled What happened at Pike River?
 

Further information

For further information please contact Anna Hughes, Senior Communications Advisor, Royal Commission on the Pike River Coal Mine Tragedy.

Mobile:027 28 28 827

Email: anna.hughes@royalcommission.govt.nz or anna.hughes@xtra.co.nz

www.pikeriver.royalcommission.govt.nz
 

For applications please note:
 

Minerals Programme for Minerals 2008 (Refer to clause 3.1 for guidance).
Acceptable work programme offer applications received between 4.30 pm on 19 December 2011 to 7.30 am on 16 January 2012 will be treated as being received at 7.30 am on 16 January 2012.

Minerals Programme for Petroleum 2005 (Refer to paragraph 5.1.3 for guidance).
Priority in time applications (and applications to extend the area of a granted permit) received between 4.30 pm on 23 December 2011 up to 7.30 am on 4 January 2012 will be recorded as being received at 7.30 am on 4 January 2012.

Please note: Priority in Time applications are currently subject to a PIT Notice.

We would like to wish you all a Merry Christmas and a prosperous New Year.
Ngā mihi papai mō te Kirihimete me te tau hou.

You can view this edition on the Ministry's website.

Highlights for the minerals and petroleum sectors include:

• Crude oil production was up nine percent on June quarter.
• The quarterly average petrol price dropped by three percent due to the strong New Zealand dollar and lower international fuel prices.
• Gas supply increased 17 percent on the June quarter after six months of relatively low production due to maintenance shutdowns.

This publication is part of the suite of energy publications produced by the Energy Information and Modelling Group of the Ministry of Economic Development.
 

Related links
 

More news - MED website - Beehive website

Press release: TAG Enters Into Farmout Agreement With Apache Corporation

Read more about TAG's Oil and gas projects in the East Coast Basin
 

Related links
 

More news - Petroleum Basins - Petroleum overview

Our Ministry is interested in hearing from New Zealanders about the issues we are working on and will be regularly consulting with you through the new 'have your say' section.

Visit the new Ministry of Economic Development website.

Phil Heatley, MP for Whangarei since 1999, picks up the Energy and Resources portfolio while retaining Housing.

Current Acting Minister of Energy and Resources, Hekia Parata, will gain the Education and Pacific Island affairs portfolios, while Gerry Brownlee will resume the role of Leader of the House, remains the Minister for Earthquake Recovery and has been given the Transport portfolio.

"The new National-led Government is ready to hit the ground running. There is a lot of work to do as we look to continue implementing our plans to build a stronger economy, reduce debt, and create more jobs."

The Ministers will be sworn in at Government House in Wellington on Wednesday morning.

Prime Minister John Key's annnouncement

• Read the Revised Draft Proposed Changes [21 kB PDF]
• Read the 30 August PIT Notice [82 kB PDF]
• Read about the Block Offer Strategy

Seafloor massive sulphide (SMS) deposits (which are rich in copper, zinc, barium and gold) have been found at the site of at least three undersea volcanoes in the Kermadec Arc region. These three are part of a group of 20 that have been identified as hydrothermally active.

These seafloor discoveries are part of the Western Pacific's 'volcanic ring of fire' where mineral-rich deposits lie on the seafloor above underwater volcanoes. The minerals are leached from the oceanic crust by acidic super-hot water. When this hot water hits the cold seawater the minerals instantly precipitate and settle, forming chimney-like structures known as "black smoker" vents.

GNS Science have been studying New Zealand's offshore mineral resources and say "it is conceivable that up to 40 of the 65 identified undersea volcanoes between New Zealand and Tonga are hydrothermally active and have associated deposits that are rich in minerals. Scientists estimate that at least 80 per cent of the world's volcanism occurs in the oceans, and a large proportion of these undersea volcanoes have yet to be mapped and characterised."

Research to date also points to the possible renewable nature of these resources as the hydrothermal vents could have the potential to "grow back" relatively quickly.
Canterbury’s Centre for Advanced Engineering estimates that seafloor mineral deposits within New Zealand's Exclusive Economic Zone could be worth several hundreds of billions of dollars, though the true value of these resources will depend on future market prices relative to extraction costs.

The Government of Papua New Guinea has granted the world's first deep sea mining lease to Nautilus Minerals for the development of its Solwara-1 project in the Bismarck Sea. That government has also taken a 30 per cent stake in the venture, though large amounts of technological development are still required to make the project feasible.

In New Zealand, any SMS projects will only be undertaken after gaining improved understanding of the resource, the development of environmentally sustainable extraction techniques suitable in these sensitive areas, and gaining precise knowledge of the biodiversity.

So SMS deposits are potentially a very valuable national resource. And, with further research, improving technology and other nearby nations starting to mine underwater, the opportunities are becoming more real. Future SMS extraction would improve New Zealand's export earnings and reduce its mineral imports.

The recently created Environmental Protection Agency (EPA) - responsible for consenting, monitoring and enforcement of activities within the EEZ - will also play an important role in any future SMS extraction.

Related links

GNS Science - More news - GIS Viewer

"New Zealand is an exciting place, with a large relatively unexplored offshore economic zone that could prove very productive for petroleum," says Peter, who spent several decades working in Britain, Africa, Canada, and northwestern Europe.

"I believe, having worked in both the industry and in Government departments, that my experience is very relevant in New Zealand’s quest to responsibly explore and develop its hydrocarbon resources."

Peter, who graduated with a BSc (Hons) degree in Geology from Nottingham University during the mid-1970s, first worked in wireline operations (the downhole data acquisition and interpretation side of the global oil and gas business), both "in the field" and in petrophysical interpretation and sales roles.

He then joined the British Government, the now Department of Energy and Climate Change, getting involved with technical regulatory matters (initially petrophysical studies and reservoir engineering) and later with field development approvals, offshore infrastructure issues and the provision of external technical contract support.

His most recent responsibilities included managing exploration-appraisal permit considerations and technical data releases, promoting Britain to new entrants and helping stimulate activity on old licences.

"I was involved in a series of inititives and permitting enhancements aimed to help promote and attract new entrant licensees to the UK."

"I believe this is something that is also applicable to New Zealand."

His main responsibility as Manager, Petroleum Exploration and Appraisal, is to lead the team in developing and managing efficient and high-quality exploration and appraisal permitting services.

"These services are focused on the rigorous and timely assessment of potential petroleum accumulations, maximising the net returns to New Zealand from the development of these valuable resources."

"I believe the time is right for New Zealand to take the next step regarding petroleum exploration and production. I am really looking forward to working with NZP&M and all the other people involved in this challenging and exciting industry."

Related links
 

More news - Careers at NZP&M - About NZP&M

"I really wanted this role; it’s challenging and hugely focused on economic development and the legacy I want for them, my whānau and my mokopuna, is a healthy prosperous New Zealand," says the former police Superintendent.

"This means, as a central pillar and bottom line, looking after papatūānuku, mother earth. We have to be careful about the manner and way we use her resources," adds the former district commander, who established the police Māori Pacific Ethnic Services office and was also seconded briefly as a strategic adviser to the Ministry of Fisheries.

"A huge part of my life in the police was designing, implementing, and an in-house expert on responsiveness to Māori. Pro-active, sometimes response initiated, engagement with iwi and Māori leaders was a highlight for me."

"And I consider myself a seasoned practitioner in planning, implementing and getting results," adds Wairoa-born Pieri.

"My hapū there are Ngai Te Ipu, Ngāti Hinepua, Ngāti Hine and Ngai Tārita. My dad’s iwi is Ngāti Kahungunu ki Wairoa but he also had Scottish and Irish heritage. My mum was born at Parihaka Pā, in Taranaki. Those iwi affiliations are Ngāti Ruanui, Ngāti Maniapoto, Whanganui and Ngai Tahu. And through my mum I also have some Portugese heritage."

He says these retained networks and relationships have huge relevance and application in his new position with NZP&M as will his familiarity with the public service and government at all levels.

"I also believe there are four 'well-beings' - economic, environmental, social and cultural - and I believe in keeping these things at the very forefront of our thinking and decision making," says Pieri, who adds that he is looking forward to meeting and liaising with Māori around the country.

Related links

More news - Careers at NZP&M - About NZP&M