PEPANZ
provide members with strong representation and advocacy , leadership for industry wide issues , while engaging openly and honestly with New Zealanders .
Over the past 3 years , New Zealand ’ s regulation and legislation concerning the oil and gas industry has undergone some major changes – from the way we offer permits to regulating our Exclusive Economic Zone .
Historically petroleum exploration permits in New Zealand were granted through a priority in time ( PIT ) system , where operators identified an area they wanted to explore and applied for a permit . Between 2003 and 2012 New Zealand ran a number of B lock Offers .
In 2012 the modern Block Offer tender process was introduced which improved New Zealand ’ s profile among international investors and since its introduction companies like Anadarko , Statoil and Woodside have invested in New Zealand ’ s petroleum potential .
In New Zealand we have 15 times more area in our Exclusive Economic Zone ( EEZ ) below the sea compared to land .
Exploration of our offshore basins is essential , the largest discoveries we have made to date are off shore .
The Exclusive Economic Zone and Continental Shelf ( Environmental Effects ) Act 2012 ( the EEZ Act ) is a law that regulates activities taking place in New Zealand ’ s exclusive economic zone and continental shelf- this puts in place clear regulations and requirements for operators looking to explore our deep waters .
166 January 2015