Where is the Reinga Basin?<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
The Reinga Basin covers more than 150,000 km2 northwest of New Zealand, within the New Zealand Exclusive Economic Zone and Extended Continental Shelf (see map below). The blocks are from around 100km offshore out to the margin of the EEZ (200Nmiles) 440kms out from the coast.
To the southeast the Reinga Basin adjoins the Northland Basin.
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What is the potential of the Reinga Basin?
Newly acquired seismic reflection data, a surface slick survey, and knowledge of the geology in the adjacent and contiguous regions of Northland and the productive Taranaki Basin indicate that a large part of it is prospective for oil and gas and some of it is highly prospective.
Large areas of sedimentary succession lie within the oil generation window. The sequence is similar to the oil and gas producing Taranaki Basin. Source rocks and reservoir rocks are in a number of clastic depositional settings. Formations are rich and modelling suggests volumes of expelled oil and gas. Slick surveys and seismic data suggest seeps are present in many areas. Fluid expulsion locations, leakage zones, and potential hydrocarbon expulsion pathways and complexes are indicated on the seismic data. Many structural and stratigraphic leads have been identified. They include rifted basins, horst blocks, reef carbonates, deep water channels, and submarine fans.
Where is the Northland Basin?
The Northland Basin lies offshore to the west of the upper North Island and covers an area of 120,000 square kilometres (the block offer covers a smaller area). This basin is contiguous with the oil and gas producing Taranaki Basin.
When will oil and or gas be discovered?
It is likely to be at least four to five years following the award of any permits (probably in late 2010), before we understand the full commercial potential of a discovery of oil or gas, and then another ten years before that oil or gas reaches any market.
How will these block offers impact on local people?
Following the award of any exploration permits the successful exploration companies will engage with local and regional authorities, and government agencies in accordance with relevant legislation.