Crude oil production up as drilling season starts

New Zealand's production of crude oil jumped nearly 20 percent in the quarter ending September, largely due to the Maari field reaching full production, Energy and Resources Minister Gerry Brownlee announced today.

The finding is one of a number of highlights from the New Zealand Energy Quarterly, published by the Ministry of Economic Development.

"Increased production of crude oil is a step in the right direction, given the massive economic benefits
of a buoyant petroleum industry," says Mr Brownlee.

"On the back of this, production exports of crude and condensate were up 17 percent on the previous
quarter.

"With the country's most intensive summer drilling season beginning, it's heartening to see our production levels lifting. New Zealand's petroleum resources are largely untapped - increasing exploration activities here is the first step in realising the government's goal of a thriving industry."

Other key findings include:

• Wind generation set a new record high, accounting for over three percent of the quarter's total generation. This is largely attributable to Meridian Energy's 143 MW West Wind project and spring wind conditions;
• Electricity emissions were down six percent on the same quarter in 2008, due to better hydro inflows and less fossil fuel generation;
• and Gas flaring was up on recent quarters, due to the large quantity being flared at the Maari field.
• The New Zealand Energy Quarterly presents statistics on the supply of major fuels, electricity generation and greenhouse gas emissions, and prices to the end of the September 2009.

To read or subscribe to the
New Zealand Energy Quarterly, go to www.med.govt.nz/energy/nzeq