Thursday, February 16, 2012

Great South Basin - potentially New Zealand's greatest oil and gas producing field...

Exxon Mobil abandons Great South Basin - Why I wonder?


Great South Basin - Questions and Answers

Where is the Great South Basin?

The Great South Basin lies offshore from the coast of Southland and south Otago, and at over 500,000 sq km is one of New Zealand’s largest petroleum basins (covering an area 1.5 times New Zealand’s land mass). The current area of awarded permits covers 18% of the basin.
A map of the basin is attached. For more detailed maps, refer to petroleum permit maps.

What is the potential of the Great South Basin?

The basin has only been very lightly explored, so until recently, little has been known about the geology and prospectivity of the basin.
Recent data indicates that the Great South Basin may have the greatest petroleum volume potential of all New Zealand’s basins. In particular it has the thick sediments required to produce hydrocarbons, favourable reservoir and source rocks, and is not affected by large scale seismic faulting found in most New Zealand basins.

How does the potential of the Great South Basin compare with Maui?

Maui is about 3.8 trillion cubic feet of gas in size, and has produced approximately 225 million barrels of oil. Data for the Great South Basin indicates the possibility for potential of up to ten times those figures - but this is, at this stage, unproven.
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