RECENT EXPLORATION ACTIVITY IN NEW ZEALAND

Abstract

The past 18 months in New Zealand have seen a relatively high level of exploration activity. A certain degree of cyclicity is part of the NZ exploration scene and derives from the fact that the industry in NZ is small and also from the nature of the permit regime. Significant developments during the period have been the discovery of commercial production outside the Taranaki Basin (the Kauhauroa field in the East Coast Basin) and the rediscovery of a potentially commercial oil accumulation in the Taranaki Basin (Maari). The level of activity is expected to continue at about the current level for at least the remainder of 1999.