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Shell sale of interests to OMV marks end of an era

Shell sale of interests to OMV marks end of an era

The Petroleum Exploration and Production Association of New Zealand (PEPANZ) says the sale of Shell’s New Zealand assets to OMV marks both the end of an era, and a vote of confidence in New Zealand.

"Shell will pass on a proud legacy after operating in New Zealand for over 100 years," says PEPANZ CEO Cameron Madgwick.

"They first started exploration here in 1911 and began natural gas production at the Kapuni field in 1969, providing a safe, reliable and affordable fuel source to New Zealanders ever since.

"Shell has also been an important part of the community and sponsored a wide range of community programmes.

"The sale represents a vote of confidence in New Zealand by OMV who are a highly regarded and well-established operator.

"They have also made a strong commitment to New Zealand since beginning operations here in 1999. They have supported conservation initiatives like whale surveys, native bird regeneration, supporting local Iwi and youth groups in Taranaki, and providing support to the Taranaki Air Ambulance Trust.

"Over the last 10 years OMV have also delivered more than $1 billion in taxes and royalties to the New Zealand Government.

"It shows again the major contribution oil and gas companies make to New Zealand."

ENDS


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