Government announces 15 new oil and gas exploration permits
Minister Simon Bridges has announced 15 new petroleum exploration permits have been granted for Block Offer 2014.
The permits include six onshore permits across the Taranaki, West Coast and East Coast basins. A further nine offshore permits have been granted across the Reinga-Northland, Taranaki, and the Pegasus basins.
The total acreage permitted for Block Offer 2014 is 47,690 square kilometres, an 85 per cent increase on acreage permitted for petroleum exploration for Block Offer 2013. The total committed exploration investment from companies for the Block Offer 2014 is over $110 million.
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.