Associate Energy Minister Harry Duynhoven granted the PMP today, which he said was of enormous benefit to New Zealand’s growing energy demands. “Pohokura has been a critical component of New Zealand’s energy forecasting for sometime, and I am delighted to see this project now proceed.”

First gas from the field is expected in mid-2006, with initial production expected to be approximately 50 PJ per annum, representing approximately 25% of New Zealand’s total annual gas production. In addition, about three million barrels of condensate is initially expected per annum, representing one-third of total annual production.

“We recognise the importance of gas production to New Zealand’s overall energy security, and a strategy has been developed in response to this. While Pohokura is not a complete solution to our energy needs, it has an important role to play in our wider strategy for investment in exploration in New Zealand,” Duynhoven added

Shell Todd Oil Services will operate the field on behalf of Shell Exploration NZ, OMV New Zealand, Todd Pohokura, and Shell (Petroleum Mining) Company.

“I look forward to seeing Pohokura brought into production, and the continued flurry of activity within the exploration industry,” Duynhoven concluded.

“This permit award is also the result of significant co-operation from the Ministry of Economic Development who supported the application process by recognising the need to consider the application process with urgency,” Shell New Zealand exploration and production commercial manager Ajit Bansal said.