GNS Science
GNS Science
GNS Science
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New Zealand’s offshore resourcesKevin Faure - Director, Geological Resources DivisionPeter King –Program Leader, NZ Petroleum resourcesProgram
<strong>GNS</strong> <strong>Science</strong> - who and what we are• Independent, Crown-owned Research Institute• New Zealand’s leading supplier of earth andisotope sciences research and consultancy• 370 staff, with offices in Wellington, Taupo(Wairakei) and Dunedin• We are not responsible for permitting & regulations<strong>GNS</strong> <strong>Science</strong>
New Zealand is a submerged continent<strong>GNS</strong> <strong>Science</strong>
TaupoWellingtonDunedin<strong>GNS</strong> <strong>Science</strong>
Value of New Zealand’s offshore mineral resourcesOffshore ResourceOil and gasGas hydratesNodules (cobalt, nickel, copper,phosphorite)Hydrothermal minerals (copper,zinc, gold, silver)Placer deposits (gold, ironsand)Estimated In-Ground Value$1 trillion?$100’s of billions?$100’s of billions?$10’s of billions?$10’s of billions?Unknown ???<strong>GNS</strong> <strong>Science</strong>
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Manganese nodulessource: Chang et al. 2003Most well-known deposit in 4-5 km ofwater, adjacent to Campbell Plateau<strong>GNS</strong> <strong>Science</strong>
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US$ (billion)Phosphorite nodulesCurrent license area on crest ofChatham RiseNZ$1 billion resource (in-ground)$3.00$2.50$2.00Value of a tonne of nodulesRed line 2007 dollars$1.50$1.00$0.50$0.001900 1920 1940 1960 1980 2000source: Kudrass and von Rad 1984<strong>GNS</strong> <strong>Science</strong>
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NZ Gold placer depositsAggregate– Auckland– MangawhaiGold– Coromandel andWest CoastIronsands– Coromandel andwest coastsCurrent ironsand exploration is looking for NZ$10 billion resourceSource: Alexander Turnbull Library<strong>GNS</strong> <strong>Science</strong>
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Titanomagnetite ironsandMineral PermitsFMG PacificRio Tinto• Exploration offshore:– Rio Tinto– Trans Tasman Resources– FMG Pacific– Ironsand Offshore MiningSinosteelTrans-Tasman ResourcesRio TintoIronsand Offshore MiningTrans-Tasman ResourcesSericho Developments<strong>GNS</strong> <strong>Science</strong>
Future iron sand mining - offshore<strong>GNS</strong> <strong>Science</strong>
9 ka coastlinePaleo-river channel9 ka coastlinePaleo-shoreline<strong>GNS</strong> <strong>Science</strong>
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•Kermadec arc:•~1,220 km;•31 volcanic centers*;•77% actively venting<strong>GNS</strong> <strong>Science</strong>
Blacksmokers<strong>GNS</strong> <strong>Science</strong>
Solwara Project Papua New Guinea<strong>GNS</strong> <strong>Science</strong>
Petroleum<strong>GNS</strong> <strong>Science</strong>
The Petroleum Geologist - A DetectiveSeismicreflectionsurveyingWe need to “look” at therock layers deep beneaththe ground surface or seabed to predict wherepetroleum may haveaccumulatedSeismic reflection surveyingis the standard tool forimaging subsurfacesedimentary layers and theirstructureModified from AAPG website<strong>GNS</strong> <strong>Science</strong>
Example of rock layers imaged on seismic lineReinga Basin, far offshore NorthlandCourtesy CGGVeritas andMED Crown MineralsOil Source and gas rocks are need lighter to than be buried water sothey deeply percolate to convert upwards organic along matter the torock petroleum Only layers a minor part of the basin mayhave generated oil or gas<strong>GNS</strong> <strong>Science</strong>
Looking for bumps (structural domes)GasOilWaterLow density gas and oil percolate upwards (abovemore dense water) and if they are impeded by nonpermeablerock layers, they will be trapped. The mostcommon trap is a structural dome.Porous gasbearing rock<strong>GNS</strong> <strong>Science</strong>
Example of a big dome beneath the seabed,Reinga basin, far offshore western Northland<strong>GNS</strong> <strong>Science</strong>
Oil does not form in giant caverns or subterraneanswimming pools –it generally resides in tiny holesbetween sand grains (together with water and/ or gas)Holes = blueGrains = cream & brownMicroscope view of sand grains<strong>GNS</strong> <strong>Science</strong>
New Zealand’s Sedimentary Basins: mostly offshoreEast CoastBasin15 plus basinstotalling around1,000,000 km 2 .50 Years of drilling.1 Commercial basin- Taranaki.Taranakiproduction is froma tiny area of NZ’sEEZ<strong>GNS</strong> <strong>Science</strong>
Taranaki Basin:• WellsOver 400 onshore &offshore• Oil and Gas Fieldsover 20 onshore &offshoreFPSONgaere-WaihapaKapuniMauiFPSO<strong>GNS</strong> <strong>Science</strong>
New Zealand’s offshore frontier basinsTwo offshore basins withnon commercialiseddiscoveries.Only 22 wells outside of TaranakiWater depths up to 3000m<strong>GNS</strong> <strong>Science</strong>
Near-term ProjectsCanterburyGreat South BasinDeep-water Taranaki<strong>GNS</strong> <strong>Science</strong>
Canterbury BasinDunedinChristchurch>4kmsedimentthicknessSediments up to 7,000 m thick Canterbury Basin5 wells offshore (1970 to 2006)Galleon-1 discovery (10 mmcf + 2,000 bbl condensate per day)Carrack/Caravel 2013? (Anadarko/Origin)Barque awaiting commitment (AWE, NZOG, Beach)<strong>GNS</strong> <strong>Science</strong>
Great South BasinStewartIslandDunedinSediments up to 10,000 m thick8 offshore wells (1976 to 1984)Oil & gas shows in several wellsSub-commercial discovery in Kawau-1A (461 bcf)Licence 38119 (Shell, OMV, et al.)Licence 50122 (Greymouth)100 km<strong>GNS</strong> <strong>Science</strong>
Example of undrilledprospectGreat South BasinPotential Half size of Reserves Maui. (P50):AreaJust one113 km2of MANY structures560 MM bbls oil2 If TCF Maui gas was found today it wouldbe worth over $NZ 50 BILLIONPossible reservoirPossible source rocks“Basement”~35 kmSeismic lineDUN06-19Northeast<strong>GNS</strong> <strong>Science</strong>
Deepwater Taranaki BasinSediments up to 10,000 m thickNo wellsPEP 38451 (32,000 km 2 ) operated by AnadarkoWell commitment made, attempting to find a rig<strong>GNS</strong> <strong>Science</strong>
Deepwater Taranaki BasinFrom scientificdiscovery todeepwater drilling in~16 years??<strong>GNS</strong> <strong>Science</strong>
Mid-term ProjectsRaukumara<strong>GNS</strong> <strong>Science</strong>
Raukumara BasinEast CapeSediments up to 13,000 m thickNo wellsPEP 52707 (12,300 km 2 ) - Petrobras (100%)<strong>GNS</strong> <strong>Science</strong>
Longer-term ProjectsReinga/NorthlandPegasusEast Coast<strong>GNS</strong> <strong>Science</strong>
Reinga/Northland BasinSediments up to 8,000 m thick4 offshore wells in Northland (1999 to 2010)Sub-commercial gas discovery Karewa-1 (130 bcf)Currently un-licensed<strong>GNS</strong> <strong>Science</strong>
East CoastBasinSediments up to 10,000 m thick3 wells offshore (1976 to 2004)Gas shows in all 3 offshore wells.Natural oil and gas seeps onshoreNot licensed but 1 new explorationpermit currently on offer<strong>GNS</strong> <strong>Science</strong>
KaikouraPegasus BasinCook StraitSediments up to 13,000 m thickNo wells2 new exploration permits currently on offer<strong>GNS</strong> <strong>Science</strong>
Near-term drilling??There are potentially11 wells that explorerscould drill thissummer if anoverseas rig can besecured.Chances are thatdrilling now appearsmore likely in the2013-2014 summer<strong>GNS</strong> <strong>Science</strong>
A multi-billion dollar investment for companiesOne deep-water well costs c. USD $100 millionA multi-billion dollarderived benefit for New ZealandThe size of the prize will be economy changing andcountry-makingSo far 2 billion barrels of oil equivalent have been foundin onshore and nearshore Taranaki Basin.[~$NZ110/barrel]Our total petroleum endowment could be much more<strong>GNS</strong> <strong>Science</strong>
So, the billion dollar question….is there petroleum to befound in economic quantities in offshore basins??We don’t yet know!To thoroughly drill will take decades.It will be years until any drilling takes place in some areas.There may not be a discovery (1:10 chance of success)?Even if there is it may not be big enough to commercially produce.But if it was, first production would still be many years away.<strong>GNS</strong> <strong>Science</strong>
Parting thoughtsArea is bigger thanthe North SeaBig opportunityBig potentialBig responsibility<strong>GNS</strong> <strong>Science</strong>
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