Maori Party MP is hoping to strike oil if the Foreshore and Seabed Act is repealed, saying it could allow Maori a percentage of future mineral claims - but an oil lobbyist warns against the move.
Te Tai Tonga MP Rahui Katene said the Maori Party wanted the controversial Act repealed and new legislation to take its place which would recognise the right of Maori under the Treaty of Waitangi to the foreshore and seabed - and a stake in any future mineral claim.
The move would "future-proof" Maori for generations to come, and protect the foreshore and seabed for all New Zealanders, she said.
As part of the Maori Party's confidence and supply agreement with the Government, a ministerial review panel on the Foreshore and Seabed Act is holding a series of hui and meetings around the country.
They began in Bluff yesterday.
Petroleum Exploration and Production Association of New Zealand executive officer John Pfahlert confirmed to the Otago Daily Times he had lodged a submission to the review panel expressing its members' concern.
Those concerns include Maori obtaining exclusive access to exploration areas and the "right to veto" against mineral permit holders.
"Future returns might be put at risk if nominated Maori had veto rights on access," the submission notes.
Oil and gas explorers at present negotiate only with the Crown, but may have to negotiate access rights with Maori if the Act is repealed.
"If the Crown decides to review the Foreshore and Seabed Act, such that the effect is to alienate certain foreshore and seabed by providing exclusive title to Maori, there is a genuine risk that our sector will not be able to effectively gain access to areas of exploration and production," Mr Pfahlert said.
The petroleum industry is this year expected to generate more than $3 billion for the New Zealand economy, with royalty payments to the Government expected to exceed $700 million.
The closing date for submissions on the Foreshore and Seabed Review is May 19.
Foreshore and seabed
The Foreshore and Seabed Act 2004:
Foreshore and seabed is the area between high water springs and the outer limit of the territorial sea.
It includes the air space and water space above the land, and the subsoil, bedrock and other matters below.
The Act vests the full legal and beneficial ownership of the public foreshore and seabed in the Crown.
