NZP&M延長新西蘭Tariki、Waihapa以及Ngaere區塊許可

New Zealand Petroleum & Minerals (NZP&M) granted New Zealand Energy Corp.’s (NZEC)?applications to extend the term for the?Tariki (PML 38138), Waihapa (PML 38140) and Ngaere (PML 38141)?licenses?in the country.

Regulator NZP&M extended the licenses for Waihapa and Ngaere?for a period of 20 years (from June 19), while that for the?Tariki PML?has been extended for a period of 5 years from July 20.

Under the extension, the work programs for the Waihapa and Ngaere PMLs?include reservoir modelling, field development work and a comprehensive evaluation of prospectivity together with a requirement to restore the Waihapa 1B?well in the Waihap PML?to production and implement an enhanced oil recovery project in the Ngaere?PML.

The agreed work program for the Tariki PML?requires the permit owners to complete dynamic reservoir modelling, determine the economic viability?of the permit resource and either commit to implementation of the preferred development project or surrender the permit.

NZEC operates each PML with a 50 percent interest, while L&M?Energy Ltd. hold the remaining 50 percent.