Chevron is operator of the Project with a 50% interest, with ExxonMobil and Shell each holding 25%.
Chevron Australia is also the operator of the existing Barrow Island oil operation. read more
Taranaki's $1.3 billion Kupe Oil & Gas Project was opened by the New Zealand Prime Minister John Key in March 2010.
ICN worked on the Kupe Project, which is operated by Origin Energy and its partners Genesis Energy, New Zealand Oil & Gas and Mitsui, to involve suitable New Zealand and Australian companies in what is the largest oil and gas project ever undertaken in New Zealand.
"The commissioning of the Kupe Gas Project is an important milestone in the development of the New Zealand petroleum sector," Energy and Resources Minister Gerry Brownlee said.
"Not only does Kupe play an important part in New Zealand's energy infrastructure, it perfectly illustrates the important role the gas and oil industry can and do play in securing a better future for New Zealand.
"Origin estimates that around 375 New Zealand companies supplied or provided services to the Kupe project, and the value of orders placed in New Zealand was $620 million. Over the last three and half years, 4.4 million man-hours were expended on the project by New Zealand suppliers and workers."
With the assistance of the ICN Network in Australia they were able to supply an additonal $321 million worth of products and services.
The Project consists of an offshore production platform and a newly laid oil and gas pipe line to an onshore production station, which covers 19 acres. Over the life of the development it is estimated Kupe will provide 254 PJ of natural gas, 1.1 million tonnes of LPJ and 14.7 million barrels of light crude oil. The gas produced from the field will meet approximately 15 percent of New Zealand's gas demand and approximately 50 percent of New Zealand's LPG demand for the next 15 to 20 years.
ICN"s involvement ensured Origin had up to date, detailed information about local supply markets - as a result, placing orders in New Zealand that it originally intended to place overseas. This contributed to the Project's success, by driving down costs and boosting local employment.
The Project has also assisted New Zealand companies to boost capability and become competitive overseas, with one company subsequently receiving an order worth over $20 million for accommodation units for an offshore production platform.
