Greymouth Petroleum hits out at decommissioning regime and blames officials for Tui debacle

Decommissioning rules on end-of-life gas fields are weighing on the industry. (Image; NZME)

Thu, 17 Oct 2024

Greymouth Petroleum says overly onerous decommissioning laws have stifled sector investment and blames officials for the debacle that led to the regime's establishment.Officials disagree.In a submission to the Crown Minerals Amendment Bill, the energy company said officials were aware of the problems around Tamarind Taranaki, which went bust in 2019. This left the Crown with the bill to decommission its offshore Tui Oilfield.“The decommissioning provisions were introduced in reaction and response to the Tamarind/Tui debacle," Gre...

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