Fiji Time: 2:56 PM on Sunday 26 October

Fiji Times Logo

/ Front page / News

Fiji's oil potential

Wednesday, July 23, 2008

A MINERAL Resources Department report released two years ago shows there is huge potential for mining oil in Fiji waters.

According to the report, "The Petroleum Potential of Fiji," over 20 structural reefal traps have been identified on seismic lines within the Bligh Water Basin with unrisked recoverable oil reserves.

It is estimated each structure has reserves of at least 270 million barrels.

The report also states recoverable reserves could increase to over a billion barrel per structure with structural-stratigraphic trapping.

The report also states there is a considerable scope for more reefal structures in the deeper Oligocene-Middle Miocene interval that cannot be resolved on existing seismic data, and in areas where seismic coverage is sparse.

With the current unintrusive technology, it is estimated that Fiji has the potential of between 5.4 billion to 20 billion barrels of oil.

Numerous attempts to contact MRD director Venasio Nasara to determine the department's strategy to realise the country's oil potential, were unsuccessful.





Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Today's Most Read Stories

  1. PM's worry
  2. 'Cyclones for Fiji'
  3. Chelsea's Costa could play against Man Utd
  4. Indian Prime Minister likely to visit
  5. Rain expected to stay
  6. Robbery suspects in police custody
  7. Probe into cause of death, identity
  8. $3.5m development
  9. 'No jurisdiction'
  10. Tribute to women

Top Stories this Week

  1. Death shocks family Monday (20 Oct)
  2. Inside Fiji sevens Tuesday (21 Oct)
  3. Budget overspent Wednesday (22 Oct)
  4. Kepa's not weak Friday (24 Oct)
  5. Full pay while on leave Friday (24 Oct)
  6. Public access Tuesday (21 Oct)
  7. Forgery suspect still in remand Tuesday (21 Oct)
  8. $20m in excess Wednesday (22 Oct)
  9. Ryan's fight to help 7s Friday (24 Oct)
  10. $11.9m in arrears Wednesday (22 Oct)