Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Deep-sea exploration consents won’t require public hearings

Govt confirms deep-sea exploration consents won’t require public hearings

By Pattrick Smellie

Feb 27 (BusinessDesk) – Deep-sea oil exploration resource consent applications won’t require public hearings, but will not be automatically ticked through, Environment Minister Amy Adams has announced.

The decision over-rides the objections of environmental groups, who wanted all deep-sea drilling to be notified for public input, but which offshore drillers say would add time and complexity that could stifle a low-risk activity.

However, exploration applications will be treated as “discretionary” rather than “permitted” activities.

Oil and gas explorers seeking to drill production wells would be required to seek resource consents from the Environmental Protection Authority under the new regulations governing the Exclusive Economic Zone, since they would be long-lasting installations and carry higher risks of environmental impact.

“The non-notified discretionary classification is the pragmatic option for exploratory drilling, and will provide a level of regulation proportionate to its effects,” Adams said in a statement. “The classification will provide effective oversight and environmental safeguards without burdening industry with excessive costs and timeframes.”

As a distant location with relatively small amounts of offshore oil and gas exploration, explorers must book their high-cost drilling rigs in available “windows” of time, which could easily be disrupted by the potential unpredictability of consenting processes.

Exploratory drilling generally lasts only a matter of weeks.

“The EPA will fully assess the effects of the activity on the environment and existing interests,” said Adams. “If a marine consent is granted, the EPA can impose such conditions as it thinks necessary to properly manage any adverse effects of the activity.

“Obtaining a marine consent to drill an exploratory well does not give the consent holder the right to begin producing oil or gas.”

The decision follows a seven-week consultation period, with the new regulations in effect from Feb 28.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Company Results: Air NZ Rides The Tourism Boom With Record Full-Year Earnings

Air New Zealand has ridden the tourism boom and staved off increased competition to deliver the best full-year earnings in its 76-year history. More>>

ALSO:

New PGP: Sheep Milk Industry Gets $12.6M Crown Funding

The Sheep - Horizon Three programme aims to develop "a market driven, end-to-end value chain generating annual revenues of between $200 million and $700 million by 2030," according to a joint statement. More>>

ALSO:

Half Full: Fonterra Raises Forecast Milk Price

Fonterra Co-operative Group Limited today increased its 2016/17 forecast Farmgate Milk Price by 50 cents to $4.75 per kgMS. When combined with the forecast earnings per share range for the 2017 financial year of 50 to 60 cents, the total payout available to farmers in the current season is forecast to be $5.25 to $5.35 before retentions. More>>

ALSO:

Keep Digging: Seabed Ironsands Miner TransTasman Tries Again

The first company to attempt to gain a resource consent to mine ironsands from the ocean floor in New Zealand's Exclusive Economic Zone has lodged a new application containing fresh scientific and other evidence it hopes will persuade regulators after their initial application was turned down in 2014. More>>

Wool Pulled: Duvets Sold As ‘Premium Alpaca’ Mostly Sheep’s Wool

Rotorua business Budge Collection Limited (Budge) and sole director, Sun Dong Kim, were convicted and fined a total of $71,250 in Auckland District Court after each pleading guilty to four charges of misrepresenting how much alpaca fibre was in their duvets. More>>

Reserve Bank: Labour Calls For Monetary Policy To Expand Goals

Labour's comments follow a speech today by RBNZ governor Graeme Wheeler in which Wheeler sought to answer critics who variously say he should stop lowering interest rates, lower them faster, or that inflation-targeting should no longer be the primary goal of the central bank's activities. More>>

ALSO:

BSA Extension And Sunday Morning Ads: Digital Convergence Bill Captures Online Content

Broadcasting Minister Amy Adams has today announced the Government’s plans to update the Broadcasting Act to better reflect today’s converged market... The Government considered four areas as part of its review into content regulation: classification requirements, advertising restrictions, election programming and contestable funding. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news