New Zealand unveils offshore bid round areas
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.