Money for exploration in budget

The upcoming budget will include $20 million over three years to fund a seismic survey programme to encourage oil and gas exploration.

The renewed survey programme will be run by Crown Minerals. "This work will increase data acquisition and processing of marine seismic surveys of the earth's subsurface geology,"

Energy Minister Gerry Brownlee said. The funding was promised during the election campaign and Mr Brownlee said previous surveys had resulted in $1.4 billion being spent on exploration by oil companies mainly in the Great South Basin.