Report: New Zealand offers highest acreage to bid in Q3 2017

This year's third quarter will see a total of 13 bid rounds closing globally, with New Zealand offering the highest acreage of all rounds, according to a report by GlobalData.

Titled ‘Q3 2017 Global Bid Round – Lebanon to Close Delayed 1st Offshore Round as Indonesia Tests New Regime’, the report details the list of various onshore and offshore bid rounds due to close in the third quarter globally.

The 2017 Block Offer round in New Zealand is for 481,675km² acreage, making it the biggest on offer, followed by the Lease Sale 249 in the US, which offers 307,156km², and Brazil’s 14th Bidding Round covering 122,623km².

The acreage in the US covers 14,220 blocks, making it the highest number of blocks among the bid rounds, followed by New Zealand’s offer of 2,128 blocks.

Lebanon will finally close its First Offshore Licensing Round in September, following three years of delay due to political issues.

Indonesia will offer both conventional and unconventional blocks in four rounds to be closed in September, the report adds.