New Zealand unveils offshore bid round areas

Offshore staff

AUCKLAND, New Zealand – Three offshore release areas are included in New Zealand’s petroleum Block Offer 2013 permitting.

The three areas, excluding current permits, are in the Reinga-Northland basins, Taranaki basin, and Great South-Canterbury basin.

“A mixture of exploration, appraisal, and frontier acreage has been selected to appeal to a diverse range of companies,” said David Binnie, general manager of New Zealand Petroleum & Minerals, a division of the Ministry of Business, Innovation, and Employment.

“For the offshore areas, companies can define and apply for a permit area up to a limit of 10,000 sq km [3,860 sq mi] in frontier areas and up to 2,500 sq km [965 sq mi] in the offshore Taranaki basin.”

Bidding to submit exploration programs opens in late May, and will continue until late September. Permit awards are expected to follow in December.

5/02/2013

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