No exploratory wells were drilled, and offshore seismic was down to 6,642 line-mi, 20% of the previous year; 137 mi of seismic was shot on land.

Land concessions decreased by 13,325 sq mi to 22,763 sq mi, and offshore concessions decreased by 21,943 sq mi to 317,860 sq mi; this includes 302.7 sq mi of a new mining license covering the offshore Maui gas field.

At a cost of NZ $30 million the Government bought a 50% interest in the Maui field, and will share all the development costs. From 2 platforms built in 2 stages of development, the field eventually will have a production capacity of 900 MMCFGD.

Production from the on-land Kapuni field was 47.3 MMCFGD, up 38%, and 3,530 b/d of condensate, up 15%. An expansion program with up to 6 additional gas-producing wells was initiated at year-end.

There is growing interest to acquire recently expired licenses. A new offshore drilling rig is scheduled to arrive in the country after the middle of 1974; nearly 50,000 sq mi of offshore concessions, including some of the best available prospects, will expire in the last quarter of 1975. Also on land, drilling is scheduled to resume in 1974.