New Zealand Opens Block Offer 2016 Tender

New Zealand's Energy and Resources Minister Simon Bridges on Monday opened the Block Offer 2016 tender for petroleum exploration permits.

The tender, totalling 525,515 km², is made up of four offshore release areas and one onshore release area. The four offshore release areas are the Reinga-Northland Basin, Taranaki Basin, Pegasus and East Coast Basins, and Great South-Canterbury Basin. There is one onshore release area in Taranaki.

“The assessment of bids for Block Offer 2016 considers the work the bidder proposes to undertake (work programme), their technical and financial capability to carry out that work, their compliance history, and their likely ability to meet New Zealand’s health, safety and environmental requirements,” the government said.

The 2016 Block Offer announcement follows consultation with iwi and local authorities.

The tender will close on 7 September 2016. The outcome of the tender is expected be announced in December 2016.