Figures from the Ministry of Economic Development show production rose almost 20% in the three months to September, compared with the previous quarter and was 7% higher than the previous year.
The figures precede a summer of oil prospecting described by the Government as the busiest in New Zealand’s history.
Energy Federation chairman Rob Whitney says the trend is good for New Zealand’s trade figures.
However, the oil industry warns that in some places, the search for oil can cost tens of millions of dollars - yet have only a 20% chance of success.
The statistics also show falling electricity usage and a rising …
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Tags: Energy Federation, Ministry of Economic Development, new zealand, New Zealand Oil and Gas, New Zealand trade, NZOG, oil industry, Rob Whitney
