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The oil and gas industry in New Zealand explores and develops oil and gas fields, and produces and distributes petroleum products and natural gas. In 2022, New Zealand's net self-sufficiency in oil (production divided by consumption) was 12%, i.e. the country imported much more crude and refined oil than it exported. [1]
Because proven reserves include oil recoverable under current economic conditions, nations may see large increases in proven reserves when known, but previously uneconomic deposits become economic to develop. In this way, Canada's proven reserves increased suddenly in 2003 when the oil sands of Alberta were seen to
The Tui oil field is an oil reservoir located 50 kilometres (31 mi) off the west coast of Taranaki, New Zealand. Tui is the sixth largest crude oil field in New Zealand with total reserves of 41 million barrels (6.5 × 10 ^ 6 m 3). [1] Remaining reserves as at January 2018 were 1 million barrels (160 × 10 ^ 3 m 3). [1] Oil is produced from the ...
In 2021, New Zealand's Total Energy Supply (TES) amounted to 829.3 petajoules (PJ), marking an 11% increase compared to 2011. The energy supply composition highlighted a diverse range of sources, with renewables being the largest contributor at approximately 42%, followed by oil at 34%, natural gas at 17%, and coal contributing about 7%.
The Maari oilfield is an oil reservoir located 80 kilometres (50 mi) off the coast of South Taranaki, New Zealand. Maari is the second largest crude oil field in New Zealand with total reserves of 49 million barrels (7.8 × 10 ^ 6 m 3). [1] Production of oil began in February 2009, and the field is expected to have a productive life of 10 to 15 ...
Trends in the five countries with largest proven reserves of natural gas, according to the US Energy Information Administration Countries by natural gas proven reserves (2014), based on data from CIA The World Factbook Countries by natural gas and oil proven reserves (2015) World natural gas proven reserves 1960–2012 (OPEC)
The company discovered a new oil field 17 kilometers west of the Troll field in the North Sea, with estimated reserves ranging between 2 and 12 million barrels of oil equivalent. The Ringand ...
In 2005, the Maui fields oil reserves were estimated to be 92% depleted, and the Maui field gas reserves were estimated to be 91% depleted. [5] In 2014, the New Zealand government revised its published estimates of natural gas reserves. "The biggest news of the recalculation involves one of the oldest gas producers.