Energy hopes high for New Zealand

By Tom Clarke

INTERNATIONAL oil exploration expert Dr Tim Dibb believes there is good potential for finding more commercially exploitable oil and gas fields in New Zealand.

Dr Dibb, who has joined Fletcher Energy as exploration manager, says his gut feeling is that there are additional fields in New Zealand.

"Every earth scientist develops gut feeling," he says, "but we're dealing in a commercial world. Gut feeling doesn't get you very far in the boardroom when you're trying to justify multi-million dollar decisions."

Dr Dibb's appointment is one of the first steps in the restructuring of Fletcher Energy to create a stronger commercial focus on oil and gas opportunities based on exploration, acquisitions and joint venture partnerships to maximise the opportunities and minimise the risks.

The company wants to establish the prospectivity of a number of New Zealand sites. Dr Dibb says many remain relatively under-explored.

"Fletcher Challenge Energy's focus has been largely on Taranaki, both onshore and offshore," he says.

"But there are other geological basins, both on the west coast and east coast of the North Island and the east coast of the South Island, and we'll be looking at the potential of them all.

"It's no secret that the east coast of the North Island has shown some recent potential, and we'll be looking closely at that area."

Dr Dibb's team will also study the potential of the Great South Basin in the south of the South Island.

But he says consideration of the potential of any area involves looking at its commercial merit as well as geological and technical aspects.

"The potential of the Great South Basin and other offshore areas will be considered, but obviously it's more expensive to produce hydrocarbons offshore, and it becomes more expensive the deeper the water gets and the more hostile the environment.

"We've got to look at the whole package, of which technical merit is one aspect and commercial requirements another."

Budgets for some work programmes are being put together by his team.

Dr Dibb, who is from Britain, has 17 years' experience in the oil industry, from seismic work to commercial contracts.

He has a BSc from Sheffield and a PhD in geology from London University.

He started in the oil and gas industry in 1982 when he joined Texaco as a geologist on the North Sea, progressing to more senior positions throughout Europe.

In 1992 he was appointed head explorationist for Amosea based in Jakarta, and three years later he became business analyst for South-east Asia based in Houston.

Before joining Fletcher Energy he worked for Texaco's gas and power business group in Trinidad.

Dr Dibb is married to a New Zealander.