BP and POAL reach agreement on tank farm sites
27 January 2004
BP and Ports of Auckland reach agreement on tank farm sites
BP Oil New Zealand (BP) and Ports of Auckland (POAL) have reached agreement on BP’s early exit from its leases in the Western Reclamation, Freemans Bay.
Under the agreement, four sites in Hamer and Brigham Streets reverted to POAL ownership as at 1 January 2004. A fifth site will revert after June 2004.
BP will continue to operate its lubricant processing plant in Madden Street. This site will revert to Ports of Auckland in 2012 or before, at the option of BP.
BP Managing Director Peter Griffiths said: “We are pleased to have resolved all the issues with Ports of Auckland relating to the early exit of leases in the Western Reclamation.
“BP takes its commitment and responsibility to the environment seriously and all land that reverts to Ports of Auckland meets or exceeds environmental standards under the Resource Management Act,” he said.
Ports of Auckland Chief Executive Geoff Vazey said: “The Western Reclamation is an important part of Auckland’s waterfront and in the future will be used for a variety of people related activities. We are pleased at the outcome of our discussions with BP.”
BP and POAL had been in dispute regarding the level of remediation of the sites, which were used for storing oil and petroleum products in the days when the Western Reclamation was a dedicated “tank farm” precinct.
The agreement now reached resolves all matters at issue between the two parties.
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