The GreatSouthBasin lies offshore from the coast of Southland and south Otago, and at over 500,000 sq km is one of New Zealand’s largest petroleumbasins (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.
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 GreatSouthBasin 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 GreatSouthBasin 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 GreatSouthBasin indicates the possibility for potential of up to ten times those figures - but this is, at this stage, unproven.