Govt continuing to support data acquisition

Energy and Resources Minister Simon Bridges says the Government’s planned investment of $8 million to acquire new aeromagnetic and petroleum data will greatly contribute to our understanding of geological prospectivity in New Zealand.

“Aeromagnetic surveys will be the main focus of this work, to provide more comprehensive data on our mineral resource,” says Mr Bridges. 

Following surveys of Northland and the West Coast region in recent years, the focus will shift to the Nelson/Marlborough region, Southland and parts of Otago. 

“Around $6.4 million is available for new aeromagnetic surveys and specific geotechnical studies over the next four years.  Together with previous surveys, the new surveys will lift coverage to around 30 per cent of New Zealand’s total land area.”

“The data collected will have a wide range of applications in fields such as geological mapping and geological hazard assessment, as well as potential mineral exploration.”

The Government also plans to spend $1.6 million on petroleum data projects and studies.  These will include a national project to audit well outcomes, and gathering additional frontier basin data through NIWA’s research vessel, RV Tangaroa.

“Providing comprehensive information to potential investors helps New Zealand compete on the international market for petroleum and mineral exploration and development.  Good data can tip the balance of investment decisions in our favour.

“The responsible and safe development of our natural resources can create high-paying jobs, raise living standards and help build a more productive economy for all New Zealanders.”

Eight million dollars over four years was allocated in Budget 2014 for new data acquisition projects.