New Zealand petroleum exploration and production statistics

Key exploration and production statistics:

  • The Taranaki Basin is the only oil and gas producing basin in New Zealand, covering an area of approximately 330,000 square kilometres
  • One onshore permit awarded in Block Offer 2016,  in the Taranaki Basin
  • New Zealand was ranked 17 out of 96 in the Fraser Institute Global Petroleum Survey 2016
  • 2 wells were drilled in 2016, down from 10 in 2015 and 33 in 2014. 2014 was a record year for exploration expenditure, including the drilling of two major offshore wells
  • In 2016, 3D seismic acquisition was up 14 per cent on 2015 to 7,638 square kilometres, and 2D seismic acquisition was 9,148 kilometres. 3D processing jumped to 21,299 square kilometres, the most in more than 16 years 

Oil

  • Ultimate recoverable oil reserves (2P) at 1 January 2017 – 588.2 mmbbls
  • Remaining oil reserves (2P) at 1 January 2017 – 78.1 mmbbls
  • Maari (26.5%) and then Pohokura (26%) were the largest producers of oil
  • Net oil (crude, condensate, naptha and NGL - LPG excluded) produced in 2016 – 12.7 mmbbls
Oil market summary for 2016
Gas
  • Net gas produced in 2016 – 191.7 PJ
  • Ultimate recoverable gas reserves (2P) at 1 January 2017 – 8,576.9 PJ
  • Remaining gas reserves (2P) at 1 January 2016 - 2,020.4 PJ
  • Pohokura (38.9%) and Maui (17.8%) were the largest producers of gas
  • Net LPG produced in 2016 – 8.3 PJ

Natural Gas Industry Summary for 2016

Data Source: Energy in New Zealand 2017 - Ministry of Business, Innovation and Employment