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
  • 10 wells were drilled in 2015, down from 33 in 2014. 2014 was a record year for exploration expenditure, including the drilling of two major offshore wells
  • In 2015, 3D seismic acquisition was up 17 per cent on 2014 to 6,699 square kilometres, and 2D seismic acquisition reached its highest level since 2008. 3D processing rose to 2,706 square kilometres, up from 212 square kilometres in 2014

Oil

  • Ultimate recoverable oil reserves (2P) at 1 January 2016 – 588.5 mmbbls
  • Remaining oil reserves (2P) at 1 January 2016 – 91.3 mmbbls
  • Maari (32.4%) and then Pohokura (21.6%) were the largest producers of oil
  • Net oil (crude, condensate, naptha and NGL - LPG excluded) produced in 2015- 14.93 mmbbls
Gas
  • Net gas produced in 2015 – 182.4 PJ
  • Ultimate recoverable gas reserves (2P) at 1 January 2016 – 8,521.0 PJ
  • Remaining gas reserves (2P) at 1 January 2016 - 2,062.0 PJ
  • Pohokura (37%) and Maui (19.2%) were the largest producers of gas
  • Net LPG produced in 2015 – 9.59 PJ

Data Source: Energy in New Zealand 2016 - Ministry of Business, Innovation and Employment