Busy offshore oil and gas exploration season starts
Tuesday 10 November 2009, 4:00PM
By Ministry of Business, Innovation and Employment
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Crown Minerals has contracted the ship MV Bergen Resolution to conduct an offshore seismic survey this summer.
Subject to the results of the survey, the seismic data collected will be compiled along with various geotechnical reports into data packages to support the promotion of competitive block offers to attract exploration companies. Although the timing is not yet determined, the block offers are likely to occur in 2011.
“In 2008 oil was our third largest export earner and we have the opportunity to increase the value of this industry to our economy. The data acquisition initiative has the potential to open up new areas which are prospective for oil and gas,” said Energy and Resources Minister Gerry Brownlee.
In May the Government committed $20 million to the data acquisition programme as part of Budget 2009.
”This latest seismic data acquisition will increase exploration activity across our frontier basins,” said Mr Brownlee. ”We have a vast offshore continental area of which New Zealand’s frontier basins cover an area of about 1.2 million square kilometres and may be capable of generating billions of barrels of oil.”
The Bergen Resolution will make a short port call in Wellington and then head out into the Pegasus Basin to acquire approximately 3,000 km of 2D seismic data. Preliminary studies by GNS Science suggest this basin has considerable hydrocarbon potential.
The Bergen Resolution will then head south to the Great South Basin and Bounty Trough area to acquire approximately 4,000 km of seismic data. Reconnaissance data will also be acquired across the Challenger Plateau and Bellona Trough area, outer Taranaki Basin, and Northland East Slope Basin area where satellite oil seep detection surveys have identified natural oil seeps suggesting active petroleum systems are present in these areas.
Exploration companies will also utilise this vessel to acquire further 2D and 3D seismic data.
In addition to the data acquisition work, a large drilling campaign is due to commence when the Kan Tan IV semi-submersible drilling rig arrives in New Zealand towards the end of this year.
Crown Minerals will also be advancing a variety of detailed geotechnical studies on the Taranaki Basin. The results of this work will assist moving forward exploration in the basin and accelerate the potential discovery of new oil and gas reserves.