New Zealand Petroleum & Minerals has awarded 10 onshore and offshore exploration permits representing committed spending of $62 million and, depending on success, further exploratory work worth as much as $720 million.
The agency awarded five onshore and five offshore permits.
The awards:
• Statoil Lambda Netherlands BV, Reinga-Northland basin (offshore).
• Woodside Energy Holdings and New Zealand Oil & Gas, one Taranaki basin (offshore) and one Great South basin South-Canterbury (offshore).
• New Zealand Oil & Gas, Great South basin South-Canterbury (offshore).
• Octanex NZ, Taranaki basin (offshore).
• AWE NZ and Mitsui, Taranaki basin (onshore).
• TAG Oil NZ, Taranaki basin (onshore).
• Eastern Petroleum and East West Petroleum, East Coast (onshore).
• Petrochem, Taranaki basin (onshore).
• Mont D’Or, East Coast (onshore).
Simon Bridges, energy and resources minister, said the awards come at the start of “one of the country’s largest oil and gas exploration seasons,” during which operators plan to drill 13 wells offshore and 30 wells onshore.