Oil and gas exploration evaporates in 2016 block offer

Wed, 14 Dec 2016

By Jonathan Underhill Dec. 15 (BusinessDesk) - Todd Corp has emerged with the only new oil and gas exploration permit after the government's Block Offer 2016, which had invited bids covering 525,515 square kilometres, including four offshore and one onshore area. Bids closed on Sept. 7 after a six-month tender with the lowest uptake since the government began the annual tender in 2012. Locally-owned Todd Exploration Management Services was granted a 10-year onshore exploration permit in the Taranaki Basin, said NZ Petroleum & Minerals, wh...

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