Country Report

New Zealand upstream summary

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21 October 2019

New Zealand upstream summary

Report summary

Taranaki Basin - New Zealand's upstream oil and gas industry is dominated by a few large fields and all production comes from the Taranaki Basin. The most notable is the Maui gas/condensate field, which commenced production in 1979 and is now in decline. The more recently discovered Tui and Maari oil fields, and the Pohokura and Kupe gas/condensate fields have offset the decline from Maui. All gas is used domestically. Produced liquids are sold to refineries in the region.No additional ...

Table of contents

  • Executive summary
  • Key facts
  • Location maps
  • Key companies
    • Introduction
    • Taranaki Basin
    • East Coast Basin
    • Northland Basin
    • Wanganui Basin
    • West coast Basin
    • Solander Basin
    • Canterbury Basin/Chatham Rise
    • Great South Basin
    • Licensing
    • Drilling
      • Drilling activity
      • Future E&A drilling
      • Historic E&A drilling
      • Success rates
  • Reserves and resources
    • Oil/Liquids
    • Gas
    • Introduction
    • Oil infrastructure
    • Gas infrastructure
    • 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
    • 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 26 images and tables including:

  • Key facts: Table 1
  • New Zealand
  • Remaining Commercial and Technical Reserves at 01/01/2019
  • Liquids and Gas Production 2019
  • Liquids and Gas Production and Reserves
  • Reserves and resources: Table 1
  • 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
  • Fiscal terms: Table 1

What's included

This report contains:

  • Document

    Country Overview

    PDF 14.62 MB

  • Document

    Country Overview

    XLS 368.50 KB

  • Document

    Country Overview

    ZIP 14.57 MB

  • Document

    Executive summary

    PDF 694.32 KB

  • Document

    Key facts

    PDF 685.21 KB

  • Document

    Location maps

    PDF 4.85 MB

  • Document

    Key companies

    PDF 710.32 KB

  • Document

    Geology

    PDF 4.31 MB

  • Document

    Exploration

    PDF 744.68 KB

  • Document

    Reserves and resources

    PDF 717.76 KB

  • Document

    Production

    PDF 727.50 KB

  • Document

    Infrastructure

    PDF 6.61 MB

  • Document

    Policy and regulation

    PDF 703.83 KB

  • Document

    Fiscal terms

    PDF 768.13 KB

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