New Zealand awards licenses for 11 onshore blocks
Australian and New Zealand companies shared the awards in New Zealand's latest exploration permit licensing round in the onshore Taranaki basin this week.
MELBOURNE, Sept. 23 -- Australian and New Zealand companies shared the awards in New Zealand's latest exploration permit licensing round in the onshore Taranaki basin this week.
More than 20 bids were received for 11 of the dozen blocks offered. Paradoxically, companies passed on one permit, which had no bids. Two others were merged into one new license.
Associate Energy Minister Harry Duynhoven said the promised work program bids for the first 5 years of the license terms totaled more than 20 wells and a minimum expenditure of $100 million (NZ).
Sydney-based Mosaic Oil joined dual listed (Aust.-NZ) L&M Petroleum to gain PEP 51151.
PEPs 51153 and 51155 were awarded to a consortium of Kea Petroleum of New Zealand and Hardie Energy and Rawson Resources of Sydney.
The New Zealand partnership of Todd Exploration and Mighty River Power got PEP 51149 in the western Taranaki, while Todd was also the solo recipient of PEP 51156.
New Zealand's Green Gate and GB Energy were awarded PEP 51150 near existing Kapuni and Rimu-Kauri oil fields.
Greymouth Petroleum of New Zealand took 100% of PEPs 51152, 51154 and 51157.
Duynhoven also announced that reserve acreage in offshore Taranaki and offshore Canterbury basins will be opened for 'priority in time' applications in November.
These blocks have recognized petroleum potential and will include areas just recently relinquished.