12. JONATHAN YOUNG (National—New Plymouth) Link to this
to the Minister of Energy and Resources
Has he received any reports about oil production commencing in the Maari field?
Hon GERRY BROWNLEE (Minister of Energy and Resources) Link to this
Yes, I have seen a report that the Maari oilfield off Taranaki has started to produce oil. The field is expected to yield 50 million barrels of oil in its 10 to 15-year life, producing revenue for the Crown of approximately $1.5 billion in both royalties and taxes.
Hon GERRY BROWNLEE Link to this
There are many benefits to New Zealand other than the royalties and taxies I mentioned. In the case of the Maari field, about 200 people have worked offshore during its installation and drilling operations with a further 60 people expected to be employed in the longer term as the years progress. The project has also employed engineering firms in Taranaki and it has given a boost to many services in the area, ensuring a positive employment effect.