WELLINGTON, New Zealand, Dec. 5 (UPI) -- New Zealand Energy and Resources Minister Simon Bridges said Thursday the government awarded 10 oil and natural gas permits for onshore and offshore activity.
"The award of exploration permits today is another important step toward unlocking New Zealand's oil and gas potential, both on and offshore," he said in a statement Thursday.
Bridges said five permits were awarded for onshore oil and gas exploration and five for offshore work. He said international and national energy companies plan to drill more than a dozen offshore and 30 onshore wells in the license areas.
Bridges said the New Zealand energy sector is a leading contributor to the national economy. Oil on its own is the fourth largest commodity export, adding more than $2 billion to the country's gross domestic product each year.
"Expenditure in the sector is at historical highs," he said. "In 2012 alone, nearly $1.2 billion was invested in exploration and development."
Woodside Petroleum Ltd. was the largest winner with two offshore permits.
Bridges in September said the government would put five offshore areas and three onshore areas, covering a combined 167,500 square miles, on the auction block next year.
