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
-
Drilling
- Drilling activity
- Recent exploration and appraisal (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
- 1 more item(s)...
- 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 the following images and tables:
-
Gas ProductionLiquids and Gas Production 2024Exploration Drilling by Region
-
Licence Activity (Exploration and Development)Key facts: Table 1New ZealandRemaining and Produced Liquids and Gas ReservesRemaining Oil, Other Liquids and Gas ReservesReserves and resources: Table 1Reserves and resources: Table 2Liquids and Gas Production 2024Reserves and contingent resources at 01/01/2025
- 30 more item(s)...
What's included
This report contains:
Other reports you may be interested in
Insight
Latin America upstream in brief
The Latin America upstream in brief provides the Wood Mackenzie view on key industry events in Central and South America as they unfold.
$6,750
Asset Report
New Zealand other fields
Overview of some of the smaller producing assets in New Zealand. All fields are located in the Taranaki basin.
$3,720
Asset Report
New Zealand other fields (sub-commercial)
Data on the fields we classify as sub-commercial in New Zealand.
$3,720
