Govt Releases Petroleum Reserves Data

  • Jul 03, 2020 NZST
  • Team Kalkine
Govt Releases Petroleum Reserves Data

Ministry of Business, Innovation & Employment has released details of New Zealand's petroleum reserves as they stand at the starting of 2020.

The data is gathered from the evaluation of permit holders' yearly brief reports, and it indicates a 0.8 per cent drop in proved plus probable (2P) gas reserves estimates over the previous year.

On 1 January 2020, gas reserves were 2,021 Petajoules (PJ), which was less than from 2,037PJ a year earlier. A 217PJ downgrade led to the reduction in reserve estimates at Pohokura, notwithstanding the improvement in reserve estimates at Mangahewa, Kapuni, Turangi, Kupe, and Maui.


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