The New Zealand government is tasked with protecting and recouping the value of our natural assets on the behalf of all kiwis. To that effect, government has established a comprehensive set of rules and regulations covering oil and gas exploration and production in New Zealand - maximising the benefit for the country.
are for New Zealanders
in the last decade from Oil & Gas
Apart from the absolute dollar value of royalties and taxes paid to the New Zealand government by oil and gas companies, kiwis benefit in many ways from oil and gas activity:
It’s true, many foreign companies have earned substantial profits by exploring and producing oil and gas in New Zealand.
However, the current royalty payment and taxation regime ensures that 42% of profits from most producing fields are returned to the New Zealand government.
While royalty and tax payments accrue to the New Zealand government, local communities benefit from oil and gas activity in many ways - from more and higher value jobs, busier towns and regions, and active communities.