Petroleum conference turns spotlight on potential

Petroleum conference turns spotlight on unlocking potential of New Zealand’s growing oil industry

Wellington, Monday, August 29 2010 – In a few weeks’ time the biennial New Zealand Petroleum Conference turns the spotlight on how New Zealand can unlock the potential of its burgeoning oil exploration and production industry, which is already one of the country’s major export earners.

Last year the industry ranked as New Zealand’s third largest export earner, behind only the meat and dairy industries, with returns of $2.8 billion in the 2008-2009 financial year.

Hosted by Crown Minerals and to be held at Auckland’s SKYCITY Convention Centre from September 19-22, the 2010 New Zealand Petroleum conference is the country’s premier event for the industry.

“The focus of this year’s conference is on the role the oil industry could play in transforming New Zealand’s economy and how we can ensure that our country continues to be a highly attractive global destination for petroleum investment,” says Crown Minerals Group Manager, Chris Kilby.

“Our efforts to provide better information about New Zealand’s petroleum resources is being noticed internationally and is enhancing our reputation as a global petroleum investment destination,” he says. Over the past few years Crown Minerals has been upgrading data acquisition and expanding the freely available seismic data from the offshore surveys it conducts.

The 2010 global petroleum survey conducted by Vancouver-based Fraser Institute ranked New Zealand at the top for the quality of its geological database, alongside Norway and five Australian states. When commenting on New Zealand as an investment destination, respondents typically noted New Zealand’s easy and open access to data.
This year’s conference theme is Transformation. Minister of Energy and Resources, Hon. Gerry Brownlee will speak about Unlocking New Zealand’s Petroleum Potential.
The conference boasts a high calibre of speakers, from leading international experts and key decision-makers to New Zealand’s major industry players such as Anadarko, AWE, Greymouth Petroleum, Origin Energy, OMV, NZ Oil and Gas, and Shell.

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. Al-Kasim, who heads a Norwegian-based consultancy that provides top-level advice on petroleum resource management, will make a keynote presentation about Lessons from the Norwegian Experience.

Other international speakers include Buechler Capital Asset Management President, Bill Buechler, who will talk about investment opportunities and Alex Kemp, Professor of Petroleum Economics at the University of Aberdeen’s Business School, who will speak about international trends in petroleum taxation and regulations.
The high-level conference programme will also deliver the latest information and insights into current production projects and emerging oil and gas investment opportunities as well as on issues that could constrain the industry’s growth. Specific conference topics include:

Economic transformation – how can we unlock New Zealand’s petroleum potential?
What can we learn from other countries to convert our oil and gas potential to generate economic wealth?
What should New Zealand do to maximise its participation and investment in the industry?
The exploration potential of the Great South Basin.
The future of gas in fuelling NZ and the world.
Use of new technology in advancing frontier exploration.
Latest basin studies and expert views on exploration techniques.
What is New Zealand’s oil exploration and production potential?
Updates on the Government’s energy strategy.
The conference concludes with a session updating the Government’s Petroleum Action Plan announced last year. International perspectives on the plan will be presented by Farouk Al-Kasim, Professor Alex Kemp and Bill Buechler.

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

ENDS

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