Source: Energy Resources Aotearoa
Energy Resources Aotearoa welcomes the New Zealand Petroleum and Minerals announcement that a new petroleum exploration block has been granted to Greymouth Petroleum in onshore Taranaki.
New Zealand’s future gas supply has been put at risk by restrictions to the allocation of exploration acreage. The reinstatement of exploration will revitalise New Zealand as an attractive destination for international investment.
Energy Resources Aotearoa Chief Executive John Carnegie says the block offer is an important step towards restarting petroleum exploration and rebuilding investor confidence.
‘We welcome the return of a more pragmatic policy approach and look forward to working with the Government to build growing a flourishing and growing energy and resources sector.
We appreciate the commitment from the Government to repeal the previous government’s ban on oil and gas exploration, and their intention to reinstate rights to explore.
Repeal will rebuild confidence in the sector, and we call on the Government to urgently introduce this legislation. It will be critical in securing New Zealand’s reputation as a safe investment destination.’
