Oil searches by Petrocorp announced
PA Wellington New oil searches' by the State-owned Petrocorp were announced yesterday by the Minister of Energy (Mr Birch). Petrocorp's onshore Taranaki petroleum licence had been extended for five years to enable “continuous and intensive exploration of the area by seismic survey and drilling," Mr Birch said. Part of the exploration area had been divided into blocks which were to be opened for fresh applications by oil companies until the end of January next year. Applicants would be able to study information on these areas supplied by Petrocorp.
Mr Birch said that Petrocorp had also been granted a new licence for the Gisborne area for a five-year term.
“Under the conditions of this licence Petrocorp will be required to surrender 50 per cent of the licence area by July 21, 1983, and at that stage release information gathered over the whole licence area,” the Minister said.
“This will allow Petrocorp to complete, process, and interpret the seismic survey being undertaken in Gisborne, the results of which will be made public within a year,” he said.
The area covers 4392 sq km west of Gisborne.
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Press, 21 July 1982, Page 2
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189Oil searches by Petrocorp announced Press, 21 July 1982, Page 2
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