The country's Great South, Canterbury, Reinga/Northland, East Coast basins, along with deep-water possibilities of petroleum acreage, have also attracted significant interest as emerging basins of petroleum potential.Oil production levels currently sit at 21 million barrels (mmbbls) per annum, while natural gas production is 158 billion cubic feet (Bcf) per annum, according to the latest figures provided by EnergyStream. Estimated oil reserves are known to be 180 mmbbls, with the potential to reach 527 to 11,161 mmbls. Gas reserves are known to be 4,600 Bcf, with the potential to reach 11,310 to 67,785 Bcf.
New Zealand: A High-potential Energy Frontier
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