New Report Supports Petroleum Development

8 December 2011
Media Statement for Immediate Use
New Report Supports Petroleum Development

The Petroleum Exploration and Production Association have welcomed the release of a report from the Institution of Professional Engineers on responsible mineral and petroleum extraction.

Association Executive Officer John Pfahlert said the report is a well-considered and researched contribution to the debate on petroleum and minerals development.

Called Realising our Hidden Treasure: Responsible Mineral and Petroleum Extraction, the report observes that NZ is relatively well endowed with petroleum and other mineral resources, and that if New Zealanders are to aspire to world class living standards that requires export oriented economic growth.

“A significant number of New Zealanders believe minerals and petroleum cannot be extracted while maintaining the quality of our environment. The IPENZ report considers the environmental impacts of minerals and petroleum extraction more manageable than many New Zealanders think” said Mr Pfahlert.

He supported the reports finding that “extracting petroleum whilst maintaining the quality of our environment is possible, but requires checks and balances including world-class regulatory controls and expert management of the impacts of minerals and petroleum extraction.”

“The report comes at a time when the Government is taking significant steps to improve the regulatory environment, including public consultation processes over offshore drilling and improving drilling regulations” said Mr Pfahlert.

Link to the Report: http://www.pepanz.org.nz/newsDocument/IPENZ-Minerals+Petroleum-%20Final%20Dec2011.pdf

ENDS

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