Subscribe free to our newsletters via your
. Oil and Gas News .




OIL AND GAS
New Zealand drawing more energy interest
by Daniel J. Graeber
Wellington, New Zealand (UPI) Dec 9, 2014


disclaimer: image is for illustration purposes only

More and more energy companies are flocking to take advantage of the potential offshore New Zealand, the country's energy minister said Tuesday.

Minister of Energy and Resources Simon Bridges said the government has awarded 15 exploration permits in its annual tender for offshore acreage, marking a steady increase from the 10 permits awarded in the inaugural auction in 2012.

"This is the most successful block offer the government has run to date, and the most competitive," he said in a statement.

U.S. energy company Chevron and Norwegian giant Statoil were among those competing for a slice of the 18,413 square miles that went on the auction block.

For Statoil, which suspended some operations in Norwegian territorial waters because of low prices, offshore New Zealand represents a "high-impact opportunity."

For Chevron, it's part of an emerging "range of potential long-term options in the Asia-Pacific region."

The government said there are around 149 million barrels of oil reserves remaining in fields already in production. Gas production was around 450 million cubic feet per day in 2011, the last full year for which the government has data.

Bridges said the permits awarded translate to about $84 million, with a potential for another $760 million in further activity.

"What we have seen this year is a deepening and strengthening of exploration in New Zealand," he said. "New players continue to enter our market, and existing players cement and expand their work here."


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








OIL AND GAS
Zero carbon emission goal not 'realistic': Saudi Arabia
Lima (AFP) Dec 09, 2014
Setting a target of zero carbon emissions by 2050 is not "realistic," Saudi Arabia's chief negotiator at UN talks for a new, world climate pact said in Lima Monday. "The zero-emissions concept - or let's knock out fossils fuels out of the picture without clear technology diffusion and solid international cooperation programs - does not help the process," the oil giant's envoy, Khalid Abule ... read more


OIL AND GAS
US sets clean-energy trade mission to China

Norway increases Green Climate Fund contribution

Germany steps up efforts to reduce carbon emissions

Matched "hybrid" systems may hold key to wider use of renewable energy

OIL AND GAS
Ferry charge station uses Corvus lithium energy storage system

Corvus Energy Announces Liquid Cooled Version of Industrial Lithium Battery

Chinese power companies pursue smart grids

A Better Look at the Chemistry of Interfaces

OIL AND GAS
Central America's new coffee buzz: renewable energy

Boeing completes test flight with 'green diesel'

Sweet Smell of Success: Researchers Boost Methyl Ketone Production

Single-atom gold catalysts may enable cheap output of fuel and chemicals

OIL AND GAS
Hungary to start Russian-funded nuclear plant expansion in 2018

China Approves Major New Scheme to Boost Nuclear Power: Reports

Finland Parliament Approves Nuclear Power Plant Construction With Russia

None of Rosatom's International Contracts Affected by Sanctions: CEO

OIL AND GAS
California's drought worst in 1,200 years

How Soil Microorganisms Get Out of Step through Climate Change

India says will not be bulldozed at climate talks

2014 poised for hottest year on record: UN

OIL AND GAS
Paris mayor wants limits on cars in centre, end to diesel

US city of Portland sues Uber

Dongfeng, Huawei partner for Internet-enabled cars

Uber now valued at $40 bn

OIL AND GAS
Iran says it carried out air strikes in Iraq: report

Car bombs in Kirkuk, Baghdad kill 33

Kerry says any Iran strikes against IS 'positive'

Iraq PM dismisses 24 interior ministry commanders

OIL AND GAS



The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.