NZ Govt. looks to attract oil and gas exploration investment

Seismic survey for petroleum exploration

Energy Minister Trevor Mallard today launched a major project by the government aimed at attracting oil and gas exploration investment in New Zealand – the first ever seismic survey off the North Island’s East Coast.

“This is an incredibly significant project. We are at a crossroads for exploration in New Zealand. As a “frontier” destination for exploration, competing against well-established petroleum economies in the Middle East and Africa, New Zealand had to take some innovative steps to attract exploration investment,” Trevor Mallard said.

New Zealand Government Press Release (via scoop.co.nz)