Why New Zealand?
- Underexplored onshore and offshore sedimentary basins
- Average productivity per producing well is many times the average rate of producing wells in Canada and the United States
- North American technology can enhance per well recovery and yield even higher-rate wells
With world-class resource potential encompassing 13 known sedimentary basins, New Zealand's energy sector is just getting started. Learn more.
New Zealand’s fiscal and regulatory regime governing energy exploration and production is comparable to the best current regimes in western Canada. Learn more.
New Zealand’s extensive energy infrastructure ranges from processing facilities and a domestic natural gas system to oil terminals. Learn more.
New Zealand offers a unique opportunity to develop world-class hydrocarbon resources in multiple underexplored onshore and offshore sedimentary basins. Despite its highly prospective geology and numerous oil and gas seeps, New Zealand remains highly underexplored. All of the current production is derived from conventional targets using vertical wells and little if any hydraulic fracturing or other enhanced technology. All the wells drilled in the past 60 years are equivalent in number to less than two weeks’ worth of vigorous drilling activity in western Canada. The average productivity per producing New Zealand well of approximately 325 boe/d is many times the average rate of producing wells in Canada and the United States, despite the outdated technology relied on to date, suggesting the extraordinary potential that additional exploration and development could yield productive, high-rate wells.
New Zealand’s National Party government actively encourages oil and gas exploration and development, recognizing the opportunity to bring new employment and economic prospects to the region while also decreasing its reliance on energy imports. With its stable geopolitical setting and supportive fiscal regime, favourable government policies and tremendous resource potential, New Zealand offers an exciting oil and gas development opportunity with the backdrop of strong crude oil prices. NZEC is among the first wave of companies to take advantage of this opportunity, and has been actively exploring New Zealand’s oil and gas opportunities since early 2011.