|
|
The 2010 New Zealand Petroleum Conference was probably the best yet held in terms of positive outlooks for the industry. By Neil Ritchie.
Gone was the doom and gloom of looming natural gas shortages of the previous years, and buried with vengeance was the Labour-led government’s acquiescence of petroleum as a “necessary evil” until the “clean, green” world of renewable energy reigned supreme. As guest speaker and United States investment manager William Buechler (at right in photo) said – there had been “a complete change” in the expectations of delegates, with the “blues” of 2006 conference disappearing and being replaced by optimism and confidence. “The enthusiasm is overwhelming; there are still significant opportunities, especially in Taranaki.” The oil and gas initiatives of the present pro-active resource development National-led government were widely welcomed, though some concerns remain about the possible, or probable, negative impacts of non-petroleum policies on the sector, such as the repeal and replacement of the Foreshore and Seabed Act and the Emissions Trading Scheme. According to several speakers, the country could soon see at the dawning of a new age of petroleum exploration. “I could not be more thrilled with the arrival of Petrobras and Anadarko, that’s huge but we need more,” commented Buechler and referring to the Brazilian government-controlled company and the US major entering our exploration scene earlier this year. Norwegian Petroteam president Farouk Al-Kasim (pictured at left) was, “extremely impressed with the spirit of determination shown” at the conference. He says the country should consider collaborations between the government, domestic and international players as the best means of achieving “win-win” situations regarding future exploration and development opportunities. He was basing his comments on the Norwegian government’s hands-on role in the development of its petroleum resources in past years. Consensus between all political parties regarding the basic tenets of petroleum activities was essential to give long-term confidence to those already involved or thinking of getting involved in New Zealand, he says. Trade-offs and compromises might also be necessary to get some specific development projects to proceed, for the good of the nation, he adds. McDouall Stuart Securities head of research John Kidd described the 2010 conference as “excellent”, with the petroleum sector having “good reason to be upbeat” about its future. “The government is taking a positive and pro-active approach ... and there are some huge opportunities to convert massive potential into reality by an industry almost still in its infancy,” he says. It is good to see the government, as the “landlord” owner of the country’s petroleum resources, taking a more active interest its estate and the various “tenants”, whether they were explorers and or producers, says Kidd. Kea Petroleum chief executive Dave Bennett, who described the Labour-led government’s attitude at the 2004 conference as, “a logically flawed exercise in the unthinking worship at the altar of renewables”, told EnergyNZ that the new state stance, as exhibited at the 2010 event, was “a refreshing change”. Petroleum Exploration and Production Association of New Zealand chairman John Bay attended his ninth petroleum conference and called it “well organized” with high quality speakers and presentations. The only negative, he says, was that nearly every delegate was already involved in the New Zealand industry in some way. “It would have been nice to get people who are looking to enter the industry, compared to those who already know the activities and what New Zealand has to offer.” Crown Minerals Group Manager Chris Kilby says about a third of the 500-plus delegates were from overseas, with the rest coming from as far afield as Southland. A first for the conference, about 40 secondary school students from Auckland and Taranaki took part in the inaugural Student Programme organised by the Pepanz Skills Programme. The training organization says it will use the format at the inaugural ENEX oil and gas to be held in New Plymouth next June.
Energy NZ Vol.4 No.6 November-December 2010 |
An uplifting 2010 Petroleum Conference, organised by Crown Minerals, featured top national and international speakers who all spoke enthusiastically about the significant petroleum potential of the country.