Genesis decides to keep Kupe field

Genesis says holding on to gas field is interest of shareholders and the country (Image: supplied)

Tue, 20 Jul 2021

Genesis Energy has decided to keep its 46% stake in the Kupe oil and gas field after a strategic review.The review was held in the context of the government’s push for 100% renewable electricity by 2030 and wider decarbonisation plans. Oil and gas field operators are also weighing up new laws and regulations around the decommissioning of the assets.Balancing these regulatory risks is that gas is in short supply in New Zealand and demand is running high. Some large consumers have complained that they are facing very large increases when tr...

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