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

 


EPA gives early nod on Taranaki well consent application

EPA gives early nod on Taranaki well consent application

By Pattrick Smellie

Sept. 5 (BusinessDesk) - The first marine consent application to drill for oil and gas in the Taranaki Basin has gained early approval from the Environmental Protection Authority in a process being closely watched by the industry after the hurdles struck by two seabed mining applicants who were first to test a new regime governing economic activity in New Zealand's vast offshore Exclusive Economic Zone.

Today's release is a staff report based on Austrian explorer and producer OMV's application for an exploration drilling programme that it hopes will extend the life of the Maari oil and gas field, which is already producing.

Oil and gas wells are commonplace already in the area of sea in question, off the Taranaki coast, but the OMV application is the first by the petrochemical sector to be fully considered under the new regime. OMV last week gained a marine consent from the EPA for its Whio-1 well, whose development began under transitional arrangements and had been drilled, plugged and abandoned by the time the consent was issued.

General manager of applications and assessment Sarah Gardner said that based on the information provided to EPA staff prior to publishing the report, it was considered that "the adverse effects of the planned activities could be appropriately mitigated."

“While there is still information to come from OMV and submitters, through evidence and their attendance at the hearing, after a thorough assessment and evaluation of the application our preliminary view is that the Decision-Making Committee can consider granting the consent.”

The DMC is scheduled to start hearings on Oct. 29, with a decision due by Dec. 18.

EPA staff reports are inputs to decision-making, but are emerging as a significant source of influence on the newly developed process.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Dairy And Travel Still Our Largest Export Earners

New Zealand earned $2.3 billion more from exports than we spent on imports during the year ended June 2015... total exports of goods and services were $67.5 billion, while total imports were $65.1 billion. More>>

ALSO:

Approval: Air New Zealand And Air China Launch New Alliance Route

Air New Zealand and Air China have today launched joint sales for a new daily direct service between Auckland and Beijing after receiving approval from New Zealand Minister of Transport Hon Simon Bridges to form a strategic alliance. More>>

ALSO:

Money Trading: FX Trader Jin Yuan Finance Warned Over Lack Of Monitoring

Jin Yuan Finance, an Auckland-based foreign exchange trader, has been warned over its lack of anti-money laundering processes in place in the first public notification by the Department of Internal Affairs. More>>

ALSO:

Auckland Surge, Possible Peak: House Values Accelerate At Fastest Annual Pace In 8 Years

New Zealand residential property values rose at their fastest annual pace in eight years in August, pushed higher by overflowing demand in Auckland, which is showing signs speculators think it has reached its peak, according to Quotable Value. More>>

ALSO:

Cash Money: Reserve Bank Launches New $5 And $10 Banknotes

The $5 and $10 final banknotes were revealed at an event at the Bank in Wellington, and will start to be released from mid-October 2015. More>>

ALSO:

Truck Sales Booted: Commerce Commission Files Charges Against Mobile Trader

The Commerce Commission has filed charges against a mobile trader, or truck shop operator, claiming he obtained money from customers by deception and never intended to supply them with the goods they paid for. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news