WELLINGTON, New Zealand -- The CGG Veritas seismic vessel MV Pacific Titan has completed a 2D seismic survey to assess the oil and gas potential of the unexplored Reinga basin offshore New Zealand. The Reinga basin lies northwest of the northern tip of the North Island and is geologically contiguous with the oil and gas producing Taranaki basin.
The survey gathered over 5,000 km (3,107 mi) of high quality 2D seismic data of which 1,500 km (932 mi) will be purchased by the Crown and made freely available to explorers. The remainder will be available on a non-exclusive basis by CGG Veritas.
The new seismic shows many possible leads including sedimentary drapes over basement highs with adjacent deep grabens and stratigraphic pinch outs, the company says. A thorough interpretation of the data by New Zealand's GNS Science will precede a blocks offer opening later this year.
Crown Minerals currently has blocks offers open over the adjacent Northland basin and the Raukumara basin on the east coast. These blocks offers are scheduled to be closed early in 2010.