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Project Insights

NZ releases onshore blocks amid offshore ban

More than 30 blocks will be on offer covering more than 200,000 hectares in the onshore Taranaki region as new offshore exploration remains off-limits More than 30 blocks will be on offer covering more than 200,000 hectares in the onshore Taranaki region as new offshore exploration remains off-limits.
By Sally Bogle 9 May 2019 Asia Pacific / Exploration & Production 0 34190
A rig in the Maui prospect off New Zealand. (OMV)

The key issue: New Zealand banned all new offshore exploration last year as it looks to a carbon-neutral future. The latest tender will give local and international operators access to the only remaining zone in New Zealand in which new oil and gas exploration is allowed.

Interfax analysis: After a year’s delay, New Zealand finally released its Block Offer 2018 tender for oil and gas exploration permits in the prospective onshore Taranaki region at the end of April.

The round, which closes on 28...