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Todd Energy welcomes PCE report

Tuesday 27 November 2012

MEDIA STATEMENT

Todd Energy welcomes PCE report

Todd Energy notes the Parliamentary Commissioner for the Environment’s (PCE) high level conclusion that the environmental risks associated with hydraulic fracturing can be managed effectively provided operational best practices are implemented and enforced through regulation.

Todd Energy Chief Executive Paul Moore said the company welcomes the Commissioner’s report. “We would like to assure the public that Todd’s hydraulic fracturing operations are effectively designed and executed.

“We also note that a focus of the final report will be on the adequacy of current regulatory enforcement. We understand the need for public confidence in the regulatory regime and welcome the PCE’s scrutiny in this area. In our view, the regulatory framework provided by the Taranaki Regional Council is consistent with industry leading practice.

“As a New Zealand-owned and operated company with a major, longstanding stake in our communities, we have a strong sense of social and environmental responsibility. We recognise that we rely on the goodwill of the communities in which we operate and we will continue to inform them - and New Zealanders generally - about the safety, care and high standards involved in our operations.

“The PCE’s interim report contributes to public understanding of this important issue and provides a clear and concise analysis of hydraulic fracturing in New Zealand. We look forward to receiving the final report next year,” said Mr Moore.

ENDS

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