National is committed to developing our oil, gas, and mineral resources in a safe, sensible, and environmentally friendly way.
This week the Government awarded 15 new oil and gas exploration permits as a result of Block Offer 2014.
Oil is our fourth largest commodity export, contributing more than $2.7 billion to our Gross Domestic Product each year.
So far, all of our production has come from Taranaki. If just one more of our 18 basins was opened for production, it would be an economic game-changer for the region and our nation.
Block Offer 2014 includes six onshore permits and nine offshore permits. It includes three new companies, one of which is a New Zealand company. Awarding these permits brings us closer to realising New Zealand’s oil and gas potential.