Country Report
New Zealand upstream summary
Report summary
The Crown Minerals (Petroleum) Amendment Act 2018 approved on 12 November 2018 effectively banned offshore exploration in New Zealand. Only Petroleum Exploration Permits (PEPs) with offshore acreage awarded before the Act's approval can conduct offshore exploration. It is only for these pre-Act PEPs for which companies can apply for offshore Petroleum Mining Licences (PMPs). All future PEPs and PMPs are limited to the onshore Taranaki Region.
Table of contents
- Executive summary
- Key facts
- Location maps
-
Key companies
- Key companies and producing assets
- OMV's planned sale of its New Zealand assets
- Matahio takes over Tamarind's onshore Taranaki portfolio
-
Geology
- Introduction
- Taranaki basin
- East Coast basin
- Northland basin
- Wanganui basin
- West Coast basin
- Solander basin
- Canterbury basin/Chatham Rise
- Great South basin
-
Exploration
-
Licensing
- Recent activity
- Historical activity
-
Drilling
- Drilling activity
- Recent and future E&A drilling
- Historical E&A drilling
- Success rates
-
Licensing
- Reserves and resources
-
Production
- Oil/Liquids
- Gas
-
Infrastructure
- Introduction
- Oil infrastructure
- Gas infrastructure
-
Costs
-
Capital costs
- Capital expenditure by location
-
Capital costs
-
Policy and regulation
- State oil company
- State participation
- Licensing
-
Exploration Permits
- Petroleum Prospecting Permits (PPP)
- Petroleum Exploration Permits (PEP)
-
Historical exploration Permit Award Process
- Petroleum Exploration Permit Offer
- Priority-in-Time Applications
- Production Permits
- Decommissioning
-
Fiscal terms
- Current fiscal terms
-
Royalty and Other Production Taxes
- Royalty
- Basic (AVR) Regime
- Hybrid (AVR:APR) Regime
- 2004 Gas Exploration Incentive Terms
-
Concessions (Royalty/Tax)
- State Equity Participation
- Export duty
- Environmental/CO2 taxes
- Energy Resources Levy
- Domestic Market Obligation (DMO)
- Contractor Revenue Entitlement
-
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
- Dividend Withholding Tax
- Sample Cash Flow Key Assumptions
- Marginal Government Take Calculation
-
Historical background
- 1970/1980s
- 1990s
- October 1990 Tax Changes
- December 1991 Tax Changes
Tables and charts
This report includes 30 images and tables including:
- Key facts: Table 1
- New Zealand
- Remaining Oil, Other Liquids and Gas Reserves
- Reserves and resources: Table 1
- Reserves and contingent resources at 01/01/2024
- Liquids and Gas Production 2023
- Net Acreage 2024
- Sedimentary Basins of New Zealand Map
- Licence Activity (Exploration and Development)
- Liquids Production
- Production: Table 1
- Production: Table 2
- Gas Production
- Production: Table 3
- Production: Table 4
- Oil Infrastructure Map
- Infrastructure: Table 1
- Gas Infrastructure Map
- Infrastructure: Table 2
- Fiscal terms: Table 2
- Fiscal terms: Table 3
- Fiscal terms: Table 4
- Fiscal terms: Table 5
- Fiscal terms: Table 6
- E&A Drilling Activity by Well Type
- Geological and Commercial Success Rates
- Drilling Activity and Commercial Success Rates
- Costs: Table 1
- Costs: Table 2
- Fiscal terms: Table 1
What's included
This report contains:
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