Bradford Welcomes Gas Discovery

Energy Minister Max Bradford today welcomed the exciting discovery of a gas field near Wairoa.

The field is reported as being the first major discovery outside of the Taranaki area, and is very promising news for the region and New Zealand's energy exploration industry as a whole, Mr Bradford said.

The discovery was also very timely news following last week's New Zealand Petroleum Conference in Queenstown, which attracted more than three hundred industry representatives, including about a third from overseas, he said.

Gas makes up about 30 per cent of New Zealand's total energy supply. All is currently produced in the Taranaki region, with the Maui and Kapuni fields producing more than 90 per cent of the total.

Mr Bradford said that one of the important points addressed at the conference was the search for replacement gas fields when Maui production eventually ceased.

"Taranaki is over-prospected compared with the rest of the country," Mr Bradford said.

"If the Wairoa discovery proves to be as exciting as the current indications, it will be a significant boost to the life of New Zealand's natural gas reserves and make our country more competitive internationally," he said.

"Hopefully the Wairoa discovery is the tip of the iceberg in the greater Hawke's Bay region."