Saturday 9 June 2012

NZ Oil Tenders


This is the first we have heard about this through mainstream media.  What is a 'responsible company'? - how about 'responsible government'?



Minister hopes 'responsible' firms take oil tenders
A Government Minister hopes the 23 blocks of sea and land being advertised to global investors for oil exploration will attract responsible companies.


9 June, 2012

The Government has put up the land up for tender, and in return is expecting economic growth in the billions, as well as the creation of thousands of jobs.

It wishes to replicate the success of the Taranaki coastline, where oil and gas has been a bonanza, across the country.

Energy and Resources Minister Phil Heatley said the blocks have been released in the hope "responsible oil companies will respond".

Heatley said in the last decade over 500,000 square kilometres were released for exploration.

The Government is now proposing to release an extra 40,000 square kilometres by offering 23 blocks across the country for investors to drill.

"We think if there is a significant find you can get up around $10-12 billion dollar mark for all of New Zealand," Heatley said.

The oil and gas industry is backing the potential economic boost.

David Robinson of the Petroleum Exploration and Production Association said the blocks will take between three and five years to develop.

"It will start with one or two years of seismic survey and desktop analysis before any drilling begins," Robinson said.

However, Labour's Energy Spokesman Grant Robertson says the offer is premature.

"At the moment we dont have laws that provide sufficient environmental protection in our exclusive economic zone where this kind of activity will be taking place," Robertson said.

The Green Party is also opposing the idea, saying the Government is risking New Zealand's clean green image and our pristine shores by selling the right to conduct risky deep sea drilling.

Bids close in October, with permits expected to be awarded by the end of the year.

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