Oil and gas reserves decline along with use
18 Jul 2023
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| Maui Gas Field. IMAGE: OMV |
The latest data on oil and gas reserves forecasts that gas production is expected to drop below 2022 gas use of 145 petajoules in 2027, unless existing fields have further investment and development.
The Ministry of Business, Innovation and Employment’s (MBIE) data supplied by both onshore and offshore permit holders said New Zealand’s expected oil and gas reserves have dropped below 10 years of existing use for the first time.
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