Exploration: GNS Report On “Promising” Reinga Basin
March 16th, 2010
GNS Science says seismic and satellite data points to the Reinga Basin, off the northwest coast of the North Island, being one of the most promising frontier basins in NZ waters. The 150,000 sq km Reinga Basin was opened up to bidding for petroleum exploration permits this year, and the release of GNS data is aimed at increasing interest in the offer, which closes in August. The GNS report is based partly on 5000km of 2D seismic data acquired last year by Crown Minerals in partnership with petroleum services company CGGVeritas.
The lead author of the report Vaughan Stagpoole says “there was clear evidence of petroleum expulsion zones which means there is an active petroleum system in the basin.” Analysis shows the basin contains potentially oil-bearing sedimentary rocks which are up to 7km thick. Rock sequences are similar to those in the Taranaki Basin, where oil is being produced. The Reinga Basin is further from land than the adjacent Northland Basin and is deeper water, which can be a challenge for explorers.
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