Show simple item record

dc.contributor.authorUpasena, Jayaprakash
dc.date.accessioned2010-11-29T22:58:08Z
dc.date.available2010-11-29T22:58:08Z
dc.date.issued1998
dc.identifier.urihttps://hdl.handle.net/10182/2896
dc.description.abstractNew Zealand achieved 50% of self sufficiency in liquid fuels by 1990, which then declined to 36% by the year 1996 due to falling local production and the growing domestic demand for oil and gas. In spite of this falling ratio, effort on petroleum exploration shows a downward trend throughout the recent past. Existing petroleum reserves are expected to be depleted totally in the near future. Therefore this study is aimed at discovering the factors affecting oil exploration in New Zealand with special attention to reward for effort levels. The reward for effort model provides a reward-effort factor of 0.92 (0.92 MMBOE of oil or gas per km drilled). According to this figure, the level of exploration needed to maintain 36% self-sufficiency in oil supply in 2010 is 13 wells per annum by the year 2000 (to allow a 10 year lead time from discovery to development for offshore fields). NZ$ 78 - 260 million per annum is required to achieve this target. Cost of drilling has a negative effect on the exploration rate while world oil prices and the demand for oil in New Zealand show positive effects on the exploration rate. Although the effect of government policy did not make a statistically significant contribution to the model, its effect cannot be totally excluded. A downward trend in exploration activities in the recent past is likely to have been driven by local and international economic and fiscal factors, New Zealand's geographic location and the unpredictable weather in the region. Scenario testing provides evidence on the possibility of maintaining the current level of self-sufficiency over the corning decade if the current trend in exploration continues to discover new reserves, and provided that cost and price fluctuations remain within the range observed for the past 10 years. Unfortunately, the available data base made the analysis difficult but reveals the direction for further research with a more complete data base. This analysis provides a basis for government to review exploration policies.en
dc.language.isoenen
dc.publisherLincoln Universityen
dc.rights.urihttps://researcharchive.lincoln.ac.nz/page/rights
dc.subjectoil and gas explorationen
dc.subjectpast trends and future directionsen
dc.subjectreward for efforten
dc.subjectforecastingen
dc.subjectdeterminants of oil explorationen
dc.subjectNew Zealanden
dc.subjectexplorationen
dc.titleOil and gas exploration activities in New Zealand : the need for future investmenten
dc.typeThesisen
thesis.degree.grantorLincoln Universityen
thesis.degree.levelMastersen
thesis.degree.nameMaster of Commerce and Managementen
lu.thesis.supervisorCullen, Ross
lu.thesis.supervisorWard, Bert
lu.contributor.unitDepartment of Accounting, Economics and Financeen
dc.rights.accessRightsDigital thesis can be viewed by current staff and students of Lincoln University only. Print copy available for reading in Lincoln University Library. en
dc.subject.anzsrc140205 Environment and Resource Economicsen


Files in this item

Default Thumbnail

This item appears in the following Collection(s)

Show simple item record