Block Offer 2016 announced
Speaking at the New Zealand Petroleum Conference, Energy and Resources Minister Simon Bridges today opened the Block Offer 2016 tender for petroleum exploration permits.
The tender, totalling 525,515 km², is made up of four offshore release areas and one onshore release area.
The release areas being tendered are:
- 16NRN-R1: offshore Northland-Reinga Basin (186,181 km²)
- 16TAR-R1: offshore Taranaki Basin (60,978km²)
- 16PEC-R1: offshore Pegasus/East Coast Basins (68,662 km²)
- 16GSC-R1: offshore Great-South/Canterbury Basins (208,632 km²)
- 16TAR-R2: onshore Taranaki Basin (1,062 km²)
The launch of the tender follows extensive consultation with 177 iwi and hapū and 42 local authorities.
The assessment of bids for Block Offer 2016 considers the work the bidder proposes to undertake (Work Programme), their technical and financial capability to carry out that work, their compliance history, and their likely ability to meet New Zealand’s health, safety and environmental requirements.
The Invitation for Bids for Block Offer 2016 closes on 7 September 2016. We expect to grant permits in December 2016.