Petroleum and Minerals Report 2013
The Petroleum and Minerals Report takes and in-depth look into how New Zealand’s petroleum and minerals sector is performing.
The petroleum and minerals sector has seen sustained growth for more than 10 years. Employment has doubled, and exports have tripled (in 2012 exports were worth $2.8 billion, excluding coal). In the last six years a total of $8.2 billion has been invested in petroleum exploration and development and $213 million in minerals exploration. In the same period the Government was paid a total of $1.9 billion in levies and royalties – $380 million in 2012 alone.
A number of themes in the petroleum and minerals sector are highlighted in the report, including:
• Petroleum (oil and gas): there is increased exploration and deep water developments, and unconventional petroleum resources are becoming economical to extract.
• Coal: there is slowing demand for coal and there is increased difficulty in accessing resources.
• Other minerals: there is increased investment in minerals exploration, and mining is going digital.