Minister announces nine new oil and gas exploration permits
Energy and Resources Minister Simon Bridges has announced nine new petroleum exploration permits granted for Block Offer 2015.
The permits include three onshore permits and six offshore permits, all in the Taranaki Basin.
The total acreage of the permits for Block Offer 2015 is 12,111 square kilometres. Collectively the nine permits include a committed work programme expenditure of $4.4 million, with the potential of more than $364 million if all contingent work is realised. Permit work programmes include geological studies and/or seismic reprocessing.
The permits granted this morning include:
- OMV NZ Limited (four offshore permits, in partnership with Mitsui E&P Australia Pty Limited)
- Todd Exploration (one offshore permit)
- Mont D’Or Resources Limited (one offshore permit)
- Petrochem Limited (three onshore permits).
The announcement follows an extensive review of bids based on factors including their technical capability, and the likely ability of operators to meet health, safety and environmental obligations.