Business Central May 2024

| 47 T T Bernadette Cooney Net zero carbon by 2030 the goal Matahio Energy operates four onshore oil and gas permits in the Taranaki region. Matahio Energy REGIONAL DEVELOPMENT The recent formation of the new coalition government, coupled with its pledge to revive petroleum exploration and restore international investor confidence in New Zealand’s oil and gas sector, has been warmly received by Matahio Energy New Zealand, based in Taranaki. Matahio Energy is a progressive energy production company, committed to its social and environmental responsibilities and actively striving to reduce its net carbon footprint by 30 to 40 percent in the next few years, aligning with its ambitious roadmap to achieving net zero carbon by 2030. Operating four onshore oil and gas production permits in the Taranaki region, Matahio Energy oversees the Cheal production facility near Stratford, operational since 1995, along with the unmanned Cheal East facility, whose wells feed into the primary Cheal site. The Sidewinder site, located near Inglewood and activated in 2011, serves as a collection hub and supplies gas to the FirstGas domestic pipeline network. Meanwhile, the Puka permit presents an opportunity for enhanced production, with exploration slated to commence in the second half of 2023. Through a concerted focus on operational energy efficiencies and the adoption of cutting-edge technologies, Matahio Energy is making strides in its mission to combat global climate change, aligning with New Zealand government objectives promoting renewable resources. Drew Cadenhead, the Country Manager of Matahio Energy NZ, underscores the company’s dedication to reducing its carbon footprint, expressing confidence in their pragmatic approach to decarbonisation. “We’re well aware of the challenges in addressing climate change and we’re working very hard to reduce our carbon footprint,” says Drew Cadenhead, Country Manager of Matahio Energy NZ. “We take a pragmatic approach to decarbonisation and have within our organisation, smart people figuring out the best ways to do this.” The company commissioned a landmark report in 2022, which lays out an evidence-based roadmap for the company to reach net zero by 2030 and is actively exploring carbon capture and storage (CCS) technologies to further mitigate its environmental impact. “As a company, we are happy to see that the new government is taking a pragmatic approach to decarbonisation and recognises the efforts the industry is making.” “As a company, we are happy to see that the new government is taking a pragmatic approach to decarbonisation and recognises the efforts the industry is making,” says Drew, “we’re feeling more positive about the future of the fossil fuel industry in New Zealand since the implementation of the new government who have already expressed a willingness to work with us and not against us.” The granting of an onshore petroleum exploration permit to Greymouth Gas Turangi from April this year, is another positive sign which will add further buoyancy to the sector says Drew. The oil and gas sector are a cornerstone of the Taranaki economy and a significant contributor to the nation’s GDP, trailing only the dairy industry in economic significance. The company is actively engaged in environmental restoration efforts, contributing substantially to a government-controlled escrow account designated for well, facility and land reclamation and restoration post-operations at all Matahio sites. Initiatives like the Matahio Wetlands Fund underscore their commitment to safeguarding freshwater resources. Furthermore, the company remains steadfast in its support for the region’s youth, sponsoring sports club events and partnering with local schools to provide career pathway and internship information.

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