A Radio NZ article.
Energy bosses say proposed legislation, designed to tighten rules around the decommissioning of oil and gas wells, risks creating a shortfall in electricity generation.
They say the Crown Minerals (Decommissioning and Other Matters) Amendment Bill is a knee-jerk reaction to the collapse of Tamarind Taranaki – the owner of the Tui Oil Field – and it will scare off vital new investment in the sector.
Tamarind Taranaki collapsed in December 2019 leaving the Crown with a bill of $300 million to safely decommission the offshore Tui Field.