Block Offer another boost for Taranaki

Press Releases
Wednesday, December 16, 2015

Taranaki’s three National MPs, Jonathan Young, Barbara Kuriger, and Hon Chester Borrows, say Block Offer 2015 brings another significant boost to the Taranaki economy, with all nine oil and gas permits awarded in the Taranaki Basin.
“These permits will bring $4.4 million of expenditure to our region and they have a potential of more than $364 million if all contingent work is realised,” says MP for New Plymouth, Jonathan Young.
“Even with the prosperity the oil and gas industry has brought to Taranaki, its potential has not yet been realised. This latest Block Offer is another step towards more opportunity for our region,” Mr Young says.
Barbara Kuriger, MP for Taranaki-King Country says, “With the only commercially developing and producing oil and gas field in New Zealand, Taranaki has the highest GDP per capita in the country at over $80,000. Oil and gas is providing 41 per cent of Taranaki’s GDP.
“Natural gas from Taranaki provides over 20 per cent of New Zealand’s primary energy supply. The oil and gas supply chain provides jobs for our region in engineering, specialised technical and consultancy services, transportation, manufacturing, and construction,” says Mrs Kuriger.
MP for Whanganui, Chester Borrows says, “The industry is still keen on what New Zealand has on offer despite a globally low oil price. In this climate, Taranaki is an attractive investment as a proven basin. This shows the robust Block Offer system the Government has in place is working.
“It is non-negotiable that the development of Taranaki’s resources will be undertaken in a safe, sensible, and environmentally responsible way. All operators must meet our rigorous standards,” says Mr Borrows.