The firm committed program, which consists of technical studies of the existing well and field data and, within 36 months, reprocessing of 450 square kilometers of 3D seismic data, is designed to delineate the gas field for possible future appraisal and development, along with the evaluation of the area’s exploration potential.
Following a three-month period during which competing offers were invited, New Zealand Petroleum and Minerals (NZPAM), the government agency responsible for regulating the exploration and development of the Crown’s mineral and petroleum resources, will now consider the proposal in detail before deciding on granting the permit, the award and timing of which are not guaranteed.
During the competitive period, Sunda continued to evaluate technical aspects of the application area and conducted a series of introductory consultation meetings as part of a planned program of stakeholder engagement as it seeks to become an active and responsible participant in New Zealand’s energy sector.
Dr. Andy Butler, Sunda’s CEO, commented: “We’re pleased that our application for an offshore exploration permit in the area of the exciting Awakino gas discovery has progressed to the exclusive phase. We look forward to working with the New Zealand authorities as they complete their evaluation of Sunda’s proposal.”