Onshore development sustains gas reserves

Thu, 02 Jul 2020

New Zealand’s natural gas reserves remain at about 11 years’ supply despite a downgrade at the offshore Pohokura field. Estimated proven and probable reserves stood at 2,021 petajoules at Jan. 1, down from 2,037 PJ a year earlier. New Zealand used about 178 PJ of gas last year. The biggest gains reported today were a 65 PJ increase at Greymouth Petroleum’s onshore Turangi field, and a 54 PJ increase at Todd Energy’s onshore Kapuni field. Todd also reported a 50 PJ reserves increase at the onshore Mangahewa field, which was the country’...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets

Me Today raises funds to be here tomorrow

Shareholders have approved a capital raise of up to $2.59 million.

Greg Hurrell 2:30pm

Markets

Economic headwinds are turning says Freightways

Freightways’ growth continues in 1Q.

Graham Skellern 12:03pm

Economic headwinds are turning says Freightways

Primary Sector

The 20-minute meeting that sealed Fonterra’s $4.2b sale to Lactalis

Riley Kennedy 11:59am

Sponsored

NZ risks losing edge as Australia takes lead in cleaner jet fuel

Experts warn SAF delay could cost jobs and growth.

Z Energy

Sponsored

Focus on safety of SME vehicle fleets

Vehicle glass repairer’s work enhances road safety.

Smith & Smith

More Infrastructure

Primary Sector

US$411b on the table: will NZ claim a slice?

Infrastructure will be a major focus of the NZ EU Summit, but Ukraine might be too.

Dileepa Fonseka 24 Oct 2025

Infrastructure

Wellington Airport's half-year passenger numbers down, net loss up

Staff reporters 23 Oct 2025

Infrastructure

Marsden Maritime Holdings CEO Rosie Mercer standing down

Marsden Maritime Holdings' chief executive, Rosie Mercer, is stepping down at the end of the year.After three years in the job, she said the decision was a natural transition point for her and the company, as Marsden Maritime Holdings (MMH) was in a strong position and well-p...

Ian Llewellyn 23 Oct 2025

Infrastructure

Property for Industry says valuation cycle turning

It cites strong occupancy, lease terms behind and sees strong 2026.

Staff reporters 21 Oct 2025

Onshore development sustains gas reserves

More Infrastructure

Your company has a subscription

Team