Reinga basin seismic suggests Taranaki similarities

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 staff

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. The current information suggests geology similar to the Taranaki basin, according to New Zealand’s Energy and Resources Minister Gerry Brownlee.

The survey gathered just 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 Minerals and made freely available to explorers, with the remainder available on a non-exclusive basis by CGG Veritas.

The new seismic show possible leads including sedimentary drapes over basement highs with adjacent deep grabens and stratigraphic pinch outs, according to Crown Minerals. A thorough interpretation of the data by New Zealand’s GNS Science will precede a blocks offer opening later in the year.

Crown Minerals awarded CGG Veritas a two-month Petroleum Prospecting Permit 51527 that covers 160,000 sq km (61,776 sq mi) to carry out the survey.

Crown Minerals currently has blocks offers open over the adjacent Northland basin and the Raukumara basin on the East Coast of New Zealand. These offers are scheduled to be closed in early 2010.

05/29/2009

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