Applicant
Origin Energy Reources NZ Limited
Case number(s)
201210020
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date11 June 2012
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in 0.4000 hectares of land at Siggs Road, Manaia.
Consideration$12,330
ApplicantOrigin Energy Resources NZ Limited
Australia (100%)
VendorOrigin Energy Resources (Kupe) Limited
Australia (100%)
Background

The Applicant is extending its current lease of the land to enable continued operation of a warehouse facility which services the Kupe Gas Production Station. The facility provides benefits in terms of lower operating costs due to the sharing of resources and more economic overall stock management.

The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors:

Overseas Investment Act 2005
17(2)(a)(iv) – Greater efficiencies and the enhancement of domestic services

Overseas Investment Regulations 2005
28(a) – Consequential benefits
28(e) – Previous investments
28(f) – Advance significant government policy or strategy
28(g) – Enhance the viability of other investments

More informationCarolyn Hintz
Bell Gully
PO Box 1291
WELLINGTON