6 September 2006

Ministry issues tender for oils stocks

The Ministry of Economic Development has called a tender for companies to hold reserve oil stocks to ensure New Zealand meets its requirement as a member of the International Energy Agency to hold 90 days of oil reserves.

The tender is being run in two parts: for oil stocks to be held in New Zealand, and for oil stocks to be held offshore on its behalf in Australia, the United States, the Netherlands and the United Kingdom, subject to the conclusion of government-to-government agreements .

Tenders for stocks to be held in New Zealand opened on Monday (4 September 2006) with a closing date of 27 October 2006.

Tenders for stocks to be held offshore will be issued on 16 October 2006, after a tender registration process.

The closing date for offshore tenders will also be 27 October 2006.

Companies interested in participating in the tender should contact the New Zealand Ministry of Economic Development (oilsecurity@med.govt.nz) or alternatively the New Zealand Government Electronic Tenders Service (www.gets.govt.nz) for details of registration and tender requirements.

ENDS

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