New Zealand: Consultation Begins for Block Offer 2014

New Zealand Consultation Begins for Block Offer 2014

New Zealand’s Energy and Resources Minister Simon Bridges today announced the start of the Block Offer 2014 process for awarding oil and gas exploration permits.

“Consultation now begins with iwi and local authorities in the areas being proposed for onshore and offshore exploration,” says Mr Bridges.

“This is an important first step in the Block Offer process and I encourage iwi and local authorities to take part. Their feedback ensures that any areas of sensitivity are carefully considered before the 2014 tender round is finalised.”

Five proposed offshore areas and three proposed onshore areas, covering a total area of nearly 434,000 square kilometres, will be consulted on for Block Offer 2014.

“The annual block offer process presents a range of opportunities for investors and operators, who bring with them vast experience in global exploration and production of oil and gas,” says Bridges.

“But this is not about development at any cost. The Government is committed to promoting and managing exploration interest in a safe and responsible way.

“While exploration won’t necessarily be undertaken in all the blocks on offer, it’s important to find out what’s there and use the information to develop New Zealand’s untapped resource wealth,” Bridges says.

The consultation period for Block Offer 2014 runs from 19 September to 14 November.

Once consultation has been completed and the final tender areas determined, New Zealand and international companies will be invited to tender for petroleum exploration permits.

Applications will be assessed based on a number of criteria including the applicants’ corporate standing, technical and financial capability, risk management practices, operating experience and proposed work programme.

Permits are expected to be awarded in December 2014.

Proposed locations

September 18, 2013