5. MARYAN STREET (Labour) Link to this
to the Minister of Energy
What reports, if any, has he received on the benefits to New Zealand of the Tui Area oil development project?
Hon DAVID PARKER (Minister of Energy) Link to this
There has already been $330 million invested in this project. Dollars spent are, of course, multiplied in the economy, and that means jobs—skilled jobs in engineering. Four hundred and fifty people have been employed directly during the development, plus there are 70 permanent roles, and a new apprenticeship training scheme. Tui Area is expected to yield 30 million barrels of oil, and at today’s prices that is worth about $2.8 billion.
How does the Tui oil project contribute to the objectives the Government is seeking to progress in the New Zealand Energy Strategy?
In the transition to lower emissions and increased renewable energy we will have reducing, but still significant, use of fossil fuels. What is important is that each country takes responsibility for its emissions. Japan takes responsibility for the coal it imports from New Zealand, and we take responsibility for the emissions from our oil use, whether the oil comes from Saudi Arabia or New Zealand.