Govt grants oil mining licences
PA Wellington The Government yesterday granted the first petroleum mining licences in four years and said it would sell its stake in the potential oil and gas fields. The licences, which a Ministry of Energy spokesman said were the first to be granted since the McKee development, apply to areas in Taranaki. They include Tariki and Ahuroa, discovered last year, Stratford, discovered in 1982/83 and Waihapa, discovered in 1985. The Minister of Energy, Mr Butcher, holds a 51 per cent interest in the Stratford licence and 38.36 per cent interests in the others. Those stakes would be advertised for sale this month and parties would
need to indicate their possible interest in tendering by October 16. Officials from Mr 'Butcher’s office and the Ministry of Energy said they had no idea what size' bids the tenders would'attract Mr Butcher said in a statement all four fields were discovered under a prospecting licence operated by Petrocorp (Exploration), Ltd. \ Petrocorp Exploration would act as operator for the four licences, although several companies hold interests in them. Tariki, in north-east Taranaki, consists of a gas-condensate column about 168 metres thick, and Ahuroa, also in northeast Taranaki, has a column about 172 metres thick. Stratford, 3km north of Stratford town, is another
gas-ebndensate field and although initial production rates were low, fracturing of the reservoir to increase flow is being considered. Fracturing to lift production is planned in the Waihapa field, Bkm southeast of Stratford. Companies holding interests in the licences are: the Ministry of Energy and Petroleum Corporation of New Zealand (Exploration), Ltd, (all four licences); Petrocorp Exploration (Taranaki), Ltd, Southern Petroleum Nl, Payzone Exploration, Ltd, Nomeco New Zealand Exploration Co., Carpentaria Exploration Co. (NZ), Ltd (Tariki, Waihapa and AhuYoa licences); Bligh Oil '’and Minerals Nl (Ahurda and Tariki licences);. Mark Nichols, Ltd, (Waihapa licence).
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Press, 23 September 1987, Page 42
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307Govt grants oil mining licences Press, 23 September 1987, Page 42
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