Northern Taranaki graben described as promising area in New Zealand

The Taranaki basin1 2 produces from several oil and gas fields, including the 3,450 bcf/180 million bbl Maui field that has been the backbone of New Zealand petroleum production for 30 years.Maui is in decline, leading to higher gas prices for producers and improving incentives for explorers. Gas is the preferred fuel for new generating plant needed to meet electricity demand growth of 800 GWh/year, while large-scale methanol plants currently provide a base load for the gas market. Click here to enlarge imageThe 10,000 sq km Northern Taranaki graben (Fig. 1) is a significant exploration opportunity within a producing basin. It is the most underexplored and prospective part of the Taranak...

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