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New Zealand offers eight blocks

Written by  Wednesday, 22 March 2017 07:28
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New Zealand has opened eight release areas, both on- and offshore, totaling more than 481,730sq km of exploration acreage. 

The New Zealand Petroleum and Minerals (NZP&M) Minister Judith Collins revealed five offshore, two onshore and one permit that stradles both on- and offshore acreage in the tender.

The offshore acreage, comprised of more than 475,000sq km, is in the Taranaki, Northland-Reinga, Pegasus - East Coast, Hawke Bay and Great South - Canterbury areas.

Onshore areas include Taranki and Southland areas. While the Taranki North release area holds acreage both on-and offshore. 

Bidders will be assessed on proposed work programs, technical and financial capability to carry out that work, compliance history, and likely ability to meet New Zealand’s health, safety and environmental requirements.

Companies have until 6 September 2017 to make bids. The ministry expects to grant permits in December 2017.

The acreage being tendered is:

  • The Northland-Reinga Offshore Release Area (17NRN-R1) – 150,566sq km
  • The Taranaki Offshore Release Area (17TAR-R1) – 64,978sq km
  • The Taranaki Onshore Release Area (17TAR-R2) – 1021sq km
  • The Taranaki North Release Area (17TAR-R3) – 1475sq km
  • The Pegasus - East Coast Offshore Release Area (17PEC-R1) – 49,630sq km
  • The Hawke Bay Offshore Release Area (17PEC-R2) – 5569sq km
  • The Southland Onshore Release Area (17SLD-R1) – 3,568sq km
  • The Great South - Canterbury Offshore Release Area (17GSC-R1) – 204,928sq km

Map of the 2017 tender, from NZP&M.

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