A global survey of around 500 petroleum companies has ranked New Zealand as the fifth best country for investment in oil and gas exploration, says Acting Minister of Energy and Resources, Hekia Parata.

The Fraser Institute Global Petroleum Survey is an annual survey of oil and gas exploration and production companies which focuses on barriers to investment in oil and gas exploration and production around the world.

The petroleum industry refers to it when making decisions about locations for oil and gas exploration and development.

New Zealand is ranked fifth behind the United States, Netherlands, Hungary and Canada.

The 2011 Survey confirms New Zealand is a well regarded destination for international business investment and underlines the positive reputation New Zealand has among oil and gas investors.

“Attracting international investment in petroleum and mineral development will help New Zealand grow its economy and deliver greater prosperity, security and opportunities for all New Zealanders,’’ Ms Parata says.

"Our Government is taking a balanced approach to building a sustainable energy and resources future. We are focused on renewables, the exploration of our natural resources, energy efficiency and the pricing of carbon as we manage our environmental responsibilities and economic opportunities.’’

The 2011 Fraser Institute Global Petroleum Survey can be read at:
http://www.fraserinstitute.org/research-news/display.aspx?id=17762