Country Report
New Zealand upstream summary
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
New Zealand's upstream industry is concentrated in the Taranaki basin, where onshore and offshore fields make up all domestic production. The country is an isolated gas market supplied only by domestic fields. Most of the large gas fields - Kapuni, Kupe, Mangahewa, Maui, and Pohokura - are in decline. Recent development drilling across major fields has had limited success in maintaining production levels. With no major new gas field developments planned or underway, gas output will continue to decline.
Table of contents
- Executive summary
- Key facts
- Location maps
-
Key companies
- Key companies and producing assets
- Key activities
-
Geology
- Introduction
- Taranaki basin
- East Coast basin
- Northland basin
- Wanganui basin
- West Coast basin
- Solander basin
- Canterbury basin/Chatham Rise
- 1 more item(s)...
-
Exploration
-
Licensing
- Recent activity
- Historical activity
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Drilling
- Drilling activity
- Recent exploration and appraisal (E&A) drilling
- Historical E&A drilling
- Success rates
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Licensing
- Reserves and resources
-
Production
- Oil/Liquids
- Gas
-
Infrastructure
- Introduction
- Oil infrastructure
- Gas infrastructure
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Costs
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Capital costs
- Capital expenditure by location
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Capital costs
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Policy and regulation
- State oil company
- State participation
- Licensing
-
Exploration Permits
- Petroleum Prospecting Permits (PPP)
- Petroleum Exploration Permits (PEP)
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Historical exploration Permit Award Process
- Petroleum Exploration Permit Offer
- Priority-in-Time Applications
- Production Permits
- Decommissioning
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Fiscal terms
- Current fiscal terms
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Royalty and Other Production Taxes
- Royalty
- Basic (AVR) Regime
- Hybrid (AVR:APR) Regime
- 2004 Gas Exploration Incentive Terms
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Concessions (Royalty/Tax)
- State Equity Participation
- Export duty
- Environmental/CO2 taxes
- Energy Resources Levy
- Domestic Market Obligation (DMO)
- Contractor Revenue Entitlement
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Product Pricing
- Liquids Pricing
- Natural Gas Pricing
- Corporate (or Petroleum) Income Tax
- Tax Rate
- Taxable Income
- Loss Carry Forward
- Additional Profits Taxes
- Fiscal/Contractual Ring-Fences
- 1 more item(s)...
- Sample Cash Flow Key Assumptions
- Marginal Government Take Calculation
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Historical background
- 1970/1980s
- 1990s
- October 1990 Tax Changes
- December 1991 Tax Changes
Tables and charts
This report includes the following images and tables:
- Gas Production
- Liquids and Gas Production 2024
- Exploration Drilling by Region
- Licence Activity (Exploration and Development)
- Key facts: Table 1
- New Zealand
- Remaining and Produced Liquids and Gas Reserves
- Remaining Oil, Other Liquids and Gas Reserves
- Reserves and resources: Table 1
- Reserves and resources: Table 2
- Liquids and Gas Production 2024
- Reserves and contingent resources at 01/01/2025
- 30 more item(s)...
What's included
This report contains:
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