SEARCH FOR OIL IN N.Z.
LEGISLATION READ SECOND TIME
PROSPECTING VENTURE IN TARANAKI AREA
(New Zealand Press Association) WELLINGTON, Aug. 31. Prospecting companies proposed to spend £1,00,000 in the search for oil i.i the Taranaki and Rangitikei areas, and negotiations were in progress with another combine for the exploration of another area in New Zealand, said the Minister of Mines (Mr W. Sullivan), in the House of Representatives tonight, when he replied to the second reading debate on the Petroleum Amendment Bill
The debate had been interrupted by the adjournment last Thursday. The Deputy-Leader of the Opposition (Mr C. F. Skinner) said the Opposition agreed that conditions should be made, more attractive to encourage big companies from overseas to search for oil in New Zealand. Because of the cost involved, the field was closed to all but the biggest companies. New Zealanders did not possess the technical skill for the highly-specialised work of prospecting, because they had not had the experience. The bill was read a second time, and referred to the Goldfields and Mines Committee.
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Bibliographic details
Press, Volume XCII, Issue 27752, 1 September 1955, Page 12
Word Count
176SEARCH FOR OIL IN N.Z. Press, Volume XCII, Issue 27752, 1 September 1955, Page 12
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