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481,737 km2 of offshore and onshore acreage for oil and gas exploration in New Zealand

New Zealand is offering a large area of offshore and onshore acreage for oil and gas companies to explore. Bids should be submitted before September 6, 2017 in order to obtain exploration permits.

With a total area of 481,735km², the tender includes five offshore areas (in Northland – Reinga, Pegasus – East Coast, Hawke Bay, Taranaki and Great South – Canterbury) and two onshore areas (in Taranaki and Southland). The offer also includes an offshore/onshore area in Taranaki. 

The total acreage included in the tender is 481,735 km², comprising 5,102 km² onshore and 476,632 km² offshore.

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Even though New Zealand’s petroleum sector is small if compared to the rest of the world, it has an important impact on the economy. Between 2011 and 2015, US$7.7 billion dollars were invested in oil & gas exploration.

Judith Collins, New Zealand’s Minister of Energy and Resources, believes that the activity in New Zealand is expected to improve over the next years, even though the government aims to support oil & gas industry while adhering to strong environmental, health and safety provisions.

Companies willing to gain a permit to explore the area should place their bids until September 6, 2017. Permits are expected to be granted in December 2017.

“Bids for exploration permits must show an understanding of the geology of the area and the resource potential they seek to investigate, and include a work programme which lays out the exploration activities they propose to undertake. Bidders must demonstrate they have the technical, financial, health and safety, and environmental capability to deliver their proposed work programme,” the Minister said.

To help you company fulfill the requirements of the Minister of Energy and Resources and understand New Zealand’s Metocean Conditions, essential to your project, Open Ocean developped Metocean Analytics - the first online offer for metocean study on-demand.

To know more about Metocean Analytics and how we can help you company, contact us and ask for a demo. 

Source: https://www.nzpam.govt.nz/permits/petroleum/block-offer/2017/