The Government has awarded 10 new oil and gas exploration permits, including five onshore, across Taranaki and the East Coast, and five offshore, in Reinga-Northland, Taranaki, and the Great South Canterbury basins.
Three new international companies have permits, including Statoil of Norway which has a 15-year permit to explore off the Renga-Northland coast.
Statoil, which is 67 per cent-owned by the Norwegian government, says it will be doing three years of initial investigative work into its deepwater block of Reinga-Northland before deciding whether to drill an exploratory well.
Energy Minister Simon Bridges, who announced the permits at an awards ceremony at Parliament, said New Zealand is an under-explored country.
#BlockOffer2013 permits total $62m in initial expenditure, with a potential $720m worth in further exploration work
— Simon Bridges (@simonjbridges) December 4, 2013
