One oil and gas exploration permit, off the southern Taranaki coast, has been approved by government permit agency New Zealand Petroleum & Minerals, amid mounting environmental pressure. NZPM petroleum national manager Josh Adams said one exploration permit had been awarded to Westside New Zealand Ltd for the Block Offer 2017, for an area covering 547sq km off Taranaki’s coast. A year ago, just one permit was granted by NZPM, to Todd Energy, while 24 permits were issued in the previous two years. New Zealand Oil & Gas holds permits off the coasts of Oamaru and Invercargill, but has yet to attract a joint-venture partner to foot the exploration costs. • Since the annual block offers were launched in 2011, about $8.7 billion has been invested in oil and gas exploration and production in New Zealand.

Source: Otago Daily Times December 21, 2017 16:07 UTC