MEDIA RELEASE
Major focus on the role of petroleum in the New Zealand economy

19 September 2010 – International experts, local industry, government decision-makers and officials gather in Auckland today to discuss the role the petroleum sector could play in transforming the New Zealand economy.

The biennial New Zealand Petroleum Conference turns the spotlight on how to unlock the potential of New Zealand’s petroleum resources for the benefit of all New Zealanders.

“The theme of the conference is ‘Transformation’ – the petroleum sector has the potential to play a significant role in the transformation of New Zealand’s economy,” says Gerry Brownlee, Minister of Energy and Resources and Minister for Economic Development.

“With a focus on that potential, here is the opportunity to hear from domestic and international experts, to gain insight from the experience of others, and to map out a path for the sector in New Zealand.”

“As a government our commitment to the sector is clear. Unlocking the potential and ensuring we are a highly attractive destination for exploration and investment will continue to be key components of this Government’s economic programme.”

Mr Brownlee provides the opening address at 9.00am on Monday, September 20. The first session focuses specifically on Economic Transformation – Unlocking New Zealand’s Petroleum Potential.

Hon. Bill English, Deputy Prime Minister, Minister of Finance and Minister for Infrastructure, will also address the conference on the sector and the economy on Tuesday, September 21.

The line-up of international speakers includes Farouk Al-Kasim, who is hailed as one of the architects of Norway's success as a leading oil producing nation, investment expert Bill Buechler, and Professor Alex Kemp from the University of Aberdeen, who will speak about international trends in petroleum taxation and regulations.

Specific topics the conference will cover include:
What can we learn from other countries to convert our oil and gas potential to generate economic wealth?
Global perspectives – what is New Zealand’s place in the petroleum world?
What should New Zealand do to maximise its participation and investment in the industry?
Challenges the industry faces in unlocking oil and gas resources.
What is New Zealand’s oil exploration and production potential?
Updates on current New Zealand oil production projects and the Government’s energy strategy.

Crown Minerals will release two key reports at the conference, its annual report with the latest figures on the petroleum industry, as well as the highly anticipated basins report.

To view the full conference programme go to: www.crownminerals.govt.nz/cms/petroleum/conferences

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