Drilling consent great news for New Zealand
The Environmental Protection Authority (EPA)’s consent for potential exploratory drilling off the South Island is great news for New Zealand and the pursuit of affordable secure energy, according to the Petroleum Exploration and Production Association of New Zealand (PEPANZ).
“It makes sense to develop our own energy here in New Zealand rather than import it,” says PEPANZ Chief Executive John Carnegie.
“A discovery of natural gas or oil would have major economic benefits for New Zealand. The taxes and royalties earned by the Crown would be substantial.
“Investing here in local infrastructure and well-paid jobs will help secure a more inclusive and prosperous society.
“All credible forecasts show the world will still need new reserves of natural gas and oil as we transition to a lower emissions world.
“Natural gas in particular is a crucial transition fuel proving affordable and reliable lower-carbon energy for New Zealand. It helps power homes, schools, businesses and communities across the country while keeping the lights on and our showers hot.
“Numerous drills have taken place in this basin since the 1970s and the water is not especially deep by New Zealand or world standards. Any drilling is very precise with the latest technology and the best international practice.
“The EPA is correct when they say any environmental impacts of the drilling will be “not significant”. The application was highly detailed with significant research and science backing it up.”