Oil and Gas Opportunities

An Expert's View about Oil in New Zealand

Last updated: 27 May 2011

For a small country, New Zealand has a vast supply of natural resources in particular, oil and gas. New Zealand is known for the Maui and Tui fields, with one of the first oil wells in the Commonwealth being drilled in 1865 near New Plymouth.

Sector briefing Oil and Gas Opportunities in New Zealand Why New Zealand? In a rapidly changing world, New Zealand's relative size allows it to react swiftly to economic change, taking advantage of new technology and fresh opportunities. For a small country, New Zealand has a vast supply of natural resources in particular, oil and gas. New Zealand is known for the Maui and Tui fields, with one of the first oil wells in the Commonwealth being drilled in 1865 near New Plymouth. New Zealand is dependent on oil and gas for producing electricity and industrial use. It has Find general information on the New Zealand been estimated that between 40-60% of gas market conditions on UKTI?s website. The used in New Zealand is for electricity Doing Business Guide for New Zealand gives an generation. overview of New Zealand?s economy, business culture, potential opportunities and an Growing international attention has seen a introduction to other relevant issues. focus on exploration by companies such as Exxon Mobil, Petrobras, OMV and Mitsui. ?The New Zealand Government has Petrobras has recently invested $118 million introduced legislation that is set to into a five year exploration project off the East Cape of New Zealand. have a dramatic effect on New Zealand?s energy future. The The Oil and Gas industry contributed $2.8 Government plan to investing $25m billion in 2009 to the New Zealand export over 3 years in seismic exploration.? industry making it the third biggest export industry in New Zealand. UK Trade & Investment Sector briefing: oil and gas opportunities in New Zealand date has shown there is strong interest in Opportunities exploration in New Zealand. The announcement continued the momentum The Oil and Gas sector in New Zealand is set to realise gas reserves for the domestic for contiuned growth. The Government?s Crown market and to discover potentially large oil Minerals management of oil and gas reserves and gas reserves in New Zealand's deep in New Zealand allows for contiual growth in water basins. this sector. The New Zealand Government has invested $25 million over three years for ? Government Infrastructure continued seismic exploration. The New Zealand Government has recently The Government Crown Minerals management assisted Petrobras in its permit to explore the of oil and gas reseaarves is integral to the the Raukumara Basin. Petrobras is industry. However, opportunities do exist for expected to spend $118 million over five companies in the UK where experience can add years on the project, with the Government value in the exploration, sismic surveying, and giving them significant assistance to help drilling of oil and gas fields in New Zealand in the permit process. This shows that the Government is interested in the ? Taranaki Basin exploration of the oil and gas fields of New Zealand, in particular new or undiscovered The Taranaki Basin has always been the areas. main focus for hydrocarbon exploration and production in New Zealand. The 'giant' Crown Minerals have recently undergone a Maui gas-condensate field is located in the review and in May 2011 will become the New Taranaki basin with more recent Zealand Petroleum Minerals which will have a discoveries being made offshore; Tui, more focused approach on business operations. Maari, Kupe and Pohokura fields. This will significantly assist the sector in the Oil and gas is currently produced from 21 development in the future. petroleum mining licences/permits fields, all in the Taranaki Basin. New Zealand's If you have any questions on the opportunities estimated remaining producing field above, contact the UKTI contacts named in this reserves, as at 1 January 2008 were 148 report. million barrels of oil (mmbbls) for producing fields and 69 mmbbls for non Business opportunities aimed specifically at UK producing fields. This shows that there are companies are added daily to UKTI?s website. still significant oil and gas reserves that These leads are sourced by our staff overseas have yet to be productive fields. in British Embassies, High Commissions and Consulates, across all sectors and in over 100 ? Other basins for exploration markets. Gas exploration has also occurred in the You can be alerted to business opportunities on Raukumara Basin, Canterbury and Great a regular basis by registering on the UKTI Basins. These basins exhibit oil seeps and website. Find out more on UKTI?s business exploration data has revealed many opportunities service on the UKTI website. structures with hydrocarbon potential. An onshore gas discovery was made in the East Coast Basin in 1998, while sub- commercial discoveries have also been made in the offshore Canterbury and Great South basins. The Raukumara Basin, East Cape of New Zealand is currently being surveyed by Petrobras with the New Zealand Government assisting the company with their $118 million project. The releases of the planned block by Crown Minerals are supported by significant Crown-funded data packs and are open for assessment. The response to UK Trade & Investment Sector briefing: oil and gas opportunities in New Zealand Major events and activities UKTI contacts Paul Tuckley New Zealand ENEX Oil and Gas Trade Manager Conference and Expo ? 2011 British Consulate General Auckland http://www.enex.co.nz Tel: (0064) (9) 303 5017 Contact: Dominic Duncan Email: paul.tuckley@fco.gov.uk Date: 9 & 10 June, 2011 www.ukti.gov.uk Location: New Plymouth, Taranaki, New Zealand Hamish Jenkin Trade Development Officer Power and Electricity World New British Consulate General Auckland Zealand Conference ? 2011 Tel: (0064) (9) 303 5014 http://www.terrapinn.com/2011/powernz Email: hamish.jenkin@fco.gov.uk Contact: Katie Barter www.ukti.gov.uk Date: 22 to 25 February 2011 Location: Auckland, New Zealand Find full details of all events in this country and sector on the UKTI website. New export events are added daily to the site and you can register to be alerted to them on a daily, weekly or monthly basis. UKTI?s Tradeshow Access Programme (TAP) provides grant support for eligible Small & Medium Sized Enterprises (SME's) to attend trade shows overseas. Find out more about UKTI support for attendance at overseas events. UK Trade & Investment Sector briefing: oil and gas opportunities in New Zealand Next steps - How UKTI can help British companies wishing to develop their business in the New Zealand market are advised to undertake as much market research and planning as possible in the UK. UKTI?s team in New Zealand, with its wide local knowledge and experience, can provide a range of services to British-based companies wishing to grow their business in global markets. This can include: ? Provision of market information ? Validated lists of agents/distributors ? Key market players or potential customers in the New Zealand market ? Establishment of interest of such contacts in working with you ? Arranging appointments ? Organise seminars or other events for you to meet contacts and promote your company in the New Zealand market This work is available via our Overseas Market Introduction Service (OMIS) a chargeable service which assists British-based companies wishing to enter or expand their business in overseas markets. To find out more about commissioning this work, or accessing other UKTI services and specialist advice, please visit the UKTI website to find contact details for your local UKTI office. Whereas every effort has been made to ensure that the information given in this document is accurate, neither UK Trade & Investment nor its parent Departments (the Department for Business, Innovation & Skills, and the Foreign & Commonwealth Office), accept liability for any errors, omissions or misleading statements, and no warranty is given or responsibility accepted as to the standing of any individual, firm, company or other organisation mentioned. Published 2010 by UK Trade & Investment. Crown Copyright © You may reuse this information (not including logos, images and case studies) free of charge in any format or medium, under the terms of the Open Government Licence. To view this licence, visit www.nationalarchives.gov.uk/doc/open-government- licence/ or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: psi@nationalarchives.gsi.gov.uk This publication is also available from our website at www.ukti.gov.uk or for more information please telephone +44 (0)20 7215 8000. UK Trade & Investment Sector briefing: oil and gas opportunities in New Zealand
Posted: 27 May 2011, last updated 27 May 2011

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