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Oil & gas block offer good for business and communities

2 April 2014

Oil & gas block offer good for business and communities

BusinessNZ says today’s announcement by the Government that designated blocks of land and sea are being made available to international companies for petroleum exploration is a welcome signal for investment in our economy.

It sends a message to international investors that along with other economic opportunities in agribusiness, IT and high-tech manufacturing, we are “open for business”.

BusinessNZ Chief Executive Phil O’Reilly says the Block Offer regime has the ability to achieve economic rewards for business and communities if done in an environmentally responsible way.

“There is great potential here for converting international investment into providing more for our communities in key regional infrastructure projects – like schools, roads and hospitals.

“This announcement is the first step in what should be a transparent and responsible process.

“It is reassuring to know that the areas made available for bidding have been decided upon after consultation with iwi, hapū and local authorities.

“This is also a good opportunity to strengthen New Zealand’s energy security. We are currently ranked third for energy security amongst the top 25 energy users in the world according to the International Index of Energy Security Risk. So New Zealand is punching considerably above it weight in this area.”

ENDS

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