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19/3/2012 — Oil and Gas
Todd chief says petroleum industry naysayers are using misinformation

The head of New Zealand’s large private petroleum producers and one of the country’s biggest companies claimed that a lot of myth and misinformation has been used to try and discredit oil companies.

Paul Moore, chief executive of Todd Energy, at a function in New Plymouth said many people were lining up to find fault with the industry and were relying on misinformation to do so.

He was in the Taranaki to announce the prospect of a major expansion of the McKee-Mangahewa oil and gas production station.

It was likely, he said that the $65 million expansion will be confirmed later this year and would provide significant economic benefits to the Taranaki.

The Taranaki Daily News reported Moore as saying that ultimately all New Zealand benefits from the considerable royalties and tax revenues and jobs that the industry is generating in the “energy province."

He said it was important to champion the cause of the energy industry.

“A thriving oil and gas sector is going to help drive growth and employment in this country for many years to come. There is enormous potential in this industry – the challenge is to turn that potential into reality."

The likely project expansion was being created by Todd signing a 10 years gas supply with Methanex New Zealand which will enable the methanol manufacturer to restart its currently idle second production train at Motunui.

A workforce, estimated at about 400, is at the Methanex site getting the "train" ready for restarting, which is expected to take place in July.

Gas supply for Motunui will primarily come from the Mangahewa field north-east of Waitara, and will require up to 25 new gas wells to be drilled over the next five years.

Moore said it would also see “substantial expansion” of the McKee plant.

The Daily News said the expansion project of this size will provide employment for a wide range of workers. Obvious categories will be engineers, geologists, truck drivers, civil contractors, trades people of various disciplines and drilling rig crews.

Source: stuff.co.nz/taranaki-daily-news.

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