Page added on November 30, 2005
Rights to explore for oil and gas across huge swathes of the Southern Ocean have been put up for grabs by the New Zealand Government in the hope that some of the world’s largest oil companies will start searching.
Soaring world energy prices have made probing the farthest reaches of the globe attractive and demand to explore the Great South Basin is expected to be strong.
A total of 40 identical blocks measuring 80km by 113km – about 9000 square kilometres – are being offered. Eight wells were drilled in the basin between 1976 and 1984, with hydrocarbons recorded in four.
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