Industry welcomes Block offer 2015

Petroleum Exploration and Production Association CEO, Cameron Madgwick, today welcomed the announcement of the 2015 Block offer at this year’s Advantage NZ Petroleum Summit.

“This year there are a mix of onshore and offshore blocks around New Zealand on offer, including: three onshore release areas: one in the Taranaki Basin and two in the West Coast Basin. There are four offshore release areas, in the Reinga-Northland Basin, Taranaki Basin, Pegasus Basin, and Great South-Canterbury Basin.

“The Block offer today is really just the start of a lengthy process to establish whether these blocks have large quantities of oil and gas. Production from a successful discovery will be at least 7 years away. 

“This year, PEPANZ is focusing on ensuring Kiwi communities are given the facts about New Zealand’s oil and gas industry.

“It’s not just about economic growth in our main cities – the real economic contribution we make is by helping to turn small towns, into busy towns. Just look at Taranaki.

“According to Statistics New Zealand oil and gas and the dairy industry, have made Taranaki the country's most productive region per person.

“Taranaki's per capita gross domestic product was $74,341, and average weekly earnings were $918, the highest of any province outside the main centres.

“As an industry we know true success is not just about finding oil or gas and economic growth. Success for the oil and gas industry is about safe drilling and operating to the best standards.

“Any company awarded one of these blocks will be required to operate to the highest standards of health and safety.  We only welcome quality operators to New Zealand. It is very important to the industry that New Zealand’s pristine environment is safeguarded and that our people get to go home to their families at the end of the working day.

“The Block Offer process has been hugely successful at bringing world class operators and investment to our shores. We look forward to the awarding of the 2015 permits later this year,” Cameron Madgwick said.

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