Transition to Renewable Energy
Kupe assets - operational excellence
Context
Kupe is 10% of the remaining NZ gas market and 51% of the
LPG market (1)
– NZ gas supply is declining with no new fields coming online
through government intervention
Updates
- Plant reliability >99% through FY23 with no recordable safety
incidents
- 4-yearly statutory turnaround safely completed
Lookahead
- The KS-9 development well, completion pending
- Progress the Kupe wind power generation study
- Upgrades on the Kupe platform to enable renewable
generation offshore.
[1] Sourced from MBIE Petroleum Reserves 2022 data
[2] From Gas Industry Council, Gas supply and demand projections - 2022 update
Gas Supply & Demand in PJ/yr
Supply (2P Prod)
Projected Demand
250
200
150
100
50
0
Shortage (2)
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
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