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Corporate Profile

Enterprise & Energy

Operating Principles

These Operating Principles represent Todd Energy’s values – guiding the way we behave and conduct our business.

Value our people + Creating a safe work environment that fosters individual and collective success. +  Employing the best staff in their fields, rewarding them well and assisting them to be the best they can be. +  Recognising and rewarding productive, motivated and resourceful employees. +  Appreciation for the perspectives of others and of sharing knowledge. +  Respectful communication and challenging each other to achieve the best results.

Care for the environment and community +  Responsibly managing the environmental impact of our activity. +  Respecting cultural diversity. +  Recognising that our businesses rely on the support of their local communities. +  Making a positive contribution to the communities in which we operate.

Maintain high standards of conduct +  Acting with integrity and adhering to the highest corporate and personal ethical standards. +  Only investing in businesses and people who meet our standards. +  Interacting in a professional and respectful manner – with one another and with all stakeholders. +  Respecting and maintaining the privacy of the shareholders. +  Seeking publicity only where it is of advantage to our businesses.

Create value +  Recognising that the purpose of our business is to create sustainable long term shareholder value. +  Placing customer satisfaction at the centre of everything we do. +  Showing initiative and imagination in our businesses and being prepared to undertake innovative ventures.

Health, Safety & Environment

Health & Safety A safe workplace for all We believe that: +  No business objective will take priority over health and safety +  All incidents are preventable +  Whilst Management have ultimate accountability, we all have responsibility for health and safety +  All personnel have the responsibility to stop any job they believe is unsafe or cannot be continued in a safe manner.

Environment We will operate in an environmentally responsible manner We believe that: +  Our environmental commitments are an integral part of our day to day activities +  We are responsible for achieving good environmental practices +  We can have a positive impact on our operating environments +  Environmental stewardship is the responsibility of all employees.


Todd Energy works closely with its neighbours, hapu and iwi, local government, and community groups on its development programme and operations. Todd Energy is a socially responsible, family-owned business, and it invests heavily in the communities in which it works.

Todd Energy endeavours to achieve the highest levels of health, safety and environmental performance and is committed to providing a workplace that is safe for employees, contractors and the public. No business objective will take priority over our health, safety and environmental responsibilities. This commitment is documented in our Health, Safety and Environmental Management System which is based on industry best practice.

About Todd Energy

Todd Energy is a subsidiary company of the family-owned Todd Corporation, one of New Zealand’s largest and most successful companies.

A history of energy growth for more than 80 years Todd Energy traces its roots back to 1931 with the establishment of Associated Motorists Petrol Company Limited (later Europa) by Sir Bryan Todd to import and distribute gasoline into New Zealand. The first Todd-owned commercial venture in New Zealand was a fellmongery opened at Heriot in Central Otago in 1885, set up by Charles Todd, a pioneer Scotsman and manager of the Quartz Gold Mine at Bendigo near Cromwell. Charles Todd’s vision and business success led to the creation of the Todd Group, which continued to diversify and go from strength to strength over the following century to become one of New Zealand’s leading energy companies.

Todd Energy’s foundations For the purposes of conducting exploration activities, Todd Energy entered into a joint venture agreement with Shell Petroleum Mining Company Ltd & BP Oil Exploration Company. In 1959, the joint venture discovered the Kapuni field, which was rich in gas and condensate.

The field began production in 1970 and allowed the country to benefit from indigenous gas and condensate products that were previously all imported into New Zealand. Demand generated on the back of the onshore Kapuni field spurred on further exploration in the Taranaki area and led to the discovery of the offshore Maui gas and condensate field in 1969.The Crown acquired a 50% interest in the Maui field, which led to its development to full production by 1979. The Company’s involvement in the discovery and development of oil and gas continues to this day, with Todd Energy’s original interests in the Kapuni and Maui fields now part of a much larger portfolio of producing and development fields. As a result of exploration together with acquisitions and joint venture partnerships, Todd Energy now holds interests in producing fields that account for around 80% of New Zealand’s annual hydrocarbon production. Ongoing diversification has extended the Todd Group’s interests beyond natural gas into electricity generation and supply, LPG delivery, and the operation of commercial and retail energy brands that deliver a range of energy sources directly to energy customers through Nova Energy, a Todd subsidiary.

About Todd Energy TODD ENERGY TODAY New Zealand Todd Energy currently has offices in Wellington and New Plymouth (Taranaki province), and net production of approximately 25,000 BOEPD1. While ongoing projects in New Zealand centre on further developing the Mangahewa field, Todd Energy is also managing or participating in development and appraisal drilling programmes during 2013 at Maui, Maari, Mangahewa and Kapuni. By 2015 the Company expects to provide about 35% of all gas production in New Zealand and 25% of all oil and condensate production. Todd Energy is a significant and growing contributor to the New Zealand economy, and between itself and sister company Nova Energy currently employs around 450 staff in upstream and downstream operations around the country. International +  In 2012 Todd Energy opened an

office in Calgary to manage its upstream entry into North America. +  The Company has also opened

an office in Perth to develop opportunities in Australia and Asia. +  The Todd Corporation has acquired a

2012 TODD PRODUCTION Liquids (MMbbls3)

Gas (PJ4)

LPG (kT5)

Total MMBOE6

Operated Assets Mckee










LPG Plant





Non operated Assets Maui

























3 4 5 6 1 2

BOEPD Barrels of oil equivalent per day MMBtu Millions of British thermal units MMbbls Millions of barrels PJ Petajoules kT Kilotonnes MMBOE Millions of barrels of oil equivalent

controlling interest in South Louisiana Methanol (SLM), which is proposing to build, own and operate a gas to methanol plant in Louisiana, USA.  The project would be the largest

methanol production facility in North America, with the SLM methanol production facility converting 163,000 MMBtu2 per day of natural gas to 5,000 metric tons per day of methanol. +  The Todd Corporation has an interest

in Cue Energy Resources Limited, an ASX listed oil and gas exploration and production company with a regional focus on South East Asia and Australasia. Cue Energy has petroleum assets in Papua New Guinea, Indonesia, New Zealand and Australia.


The portfolio includes six production permits held in unincorporated joint ventures:

TODD ENERGY PRODUCTION – TARANAKI BASIN Legend Ultimate (Recoverable) Reserves Oil Field

+  Mangahewa gas-condensate field – 100% WI7 (Todd operated)


+  McKee oil field – 100% WI (Todd operated) +  Kapuni gas-condensate field – 50% WI +  Pohokura gas-condensate field – 26% WI

Pohokura 1044 Bcf 63 mmbls

Gas Field

State Highway

Mangahewa 219 Bcf 5.3 mmbls

Reserves statistics as at 1 January 2012





McKee 172 Bcf 49 mmbls


+ Maari oil field – 16% WI +  Maui gas-condensate field – 6.25% WI

Kapuni 1430 Bcf 68 mmbls

Maui 3,696 Bcf 164 mmbls

Maari 58 mmbls


Todd Energy holds a significant exploration acreage portfolio in New Zealand, focused onshore and offshore in the Taranaki Basin.


Working interest



Permit operator


PEP 38602 Karewa PEP 53374 Opunake

Taranaki, offshore



Taranaki, offshore



PEP 54865 12TAR9

Taranaki, offshore



PEP 51149 Te Kiri

Taranaki, on/offshore



PEP 51558 Kanuka

Taranaki, offshore



PEP 51313 Te Whatu

Taranaki, offshore



PEP 38459 Okoki

Taranaki, offshore



PEP 381203 Ruru

Taranaki, offshore



About Todd Energy

MANGAHEWA AND MCKEE Todd Energy purchased 100% of the Mangahewa and McKee fields in 2001 – taking over direct operations at the McKee Production Station in 2006. The McKee Production Station processes oil, gas and condensate from the two fields on a site that Todd Energy is continuing to develop. In September 2011 a new LPG extraction plant was opened and is meeting about 15% of New Zealand’s LPG demand. The Mangahewa field has been producing since 1997 and delivered 5.9 PJ of gas in 2011. The adjoining 32-year-old McKee field produced 4.5 PJ, including gas re-injected to enhance oil recovery. Todd Energy’s ongoing projects in New Zealand centre on the further development of the Mangahewa field and will see Todd Energy invest over $800 million in New Zealand over the next few years, including an extensive drilling programme and a substantial expansion of production facilities in Taranaki. This is expected to add 450 PJ of natural gas into the market over the life of the field. The development will require expansion of the current processing facilities, which will increase the 20 PJ capacity of the existing McKee and Mangahewa plants to 45 PJ. The expansion will also stabilise about 3,500 barrels of condensate a day, as well as increasing the Company’s LPG capacity.


MW Megawatts

Todd Energy has extensive experience and expertise in upstream petroleum operations. The Company actively manages its portfolio and regularly assesses new opportunities.

Gas from the development will supply Todd’s Nova Energy retail arm and help fill a 10-year supply agreement with Methanex. This agreement has enabled Methanex to restart its second methanol plant at Motonui. In addition, Todd Energy sells to Nova Energy whose other key customers include Fonterra, significant gas and electricity wholesalers, and a large array of industrial, commercial and residential customers.

MCKEE POWER PLANT In 2012 Nova Energy commissioned a 100 MW8 capacity power station, located nearby and linked to the McKee Production Station. This facility (designed primarily as a peaker plant) is linked to flexible gas and electricity supply contracts and provides Todd Energy with the ability to maximise gas production and returns.

Nova Energy

DOWNSTREAM SUPPLY & EXPERTISE Nova Energy has a diverse and growing electricity generation portfolio that includes both thermal and renewable generation. Nova Energy holds interests in nine power stations, totalling more than 243 MW of installed capacity. Nova Energy’s electricity generation utilises a diverse range of renewable hydro and geothermal energy and is the largest generator of electricity in New Zealand from efficient gas-fired co-generation facilities. It also uses technology that harnesses landfill gas to create electricity, which ultimately helps reduce New Zealand’s greenhouse gas emissions.

Nova Energy, like Todd Energy, is a wholly owned subsidiary of the Todd Corporation. It is a wholesaler and retailer of natural gas and LPG, an electricity generator and retailer, and a provider of solar water heating solutions.

Being part of the Todd Group gives Nova Energy direct access to Todd Energy’s significant gas reserves and industry knowledge. Because of this, Nova Energy customers benefit from expert gas advice and enhanced security of supply. In 2011, Todd Energy completed an LPG plant at its McKee Production Station. With a production capacity of 27,000 tonnes per year, the plant provides LPG to Nova Energy for customers nationwide.

In addition to its LPG customers, Nova Energy supplies approximately 60,000 electricity customers and 34,000 natural gas customers, and is one of New Zealand’s fastest growing companies.







Upstream Leadership Team

Paul Moore

John Begg

Executive Vice President Upstream Energy and Resources, CEO Todd Energy

General Manager Business Development, International Exploration & Production

Prior to joining Todd, Paul was Managing Director at Otto Energy, Executive Vice President Development at Woodside, Vice President Development Projects and Technical Services at Santos. Paul was employed by Fletcher Challenge for 11 years during which time he was a Director of Maui Development Limited. Paul has a Masters in Business Administration, a Bachelor of Science in Civil Engineering (2:1 honours). He is a Fellow of the Australian Institute of Company Directors, Chartered Engineered, and a member of the Society of Petroleum Engineers.

John has over 30 years of experience in the oil and gas sector working with companies such as Occidental Petroleum, Ampolex Limited and Premier Oil. He is an experienced executive of public listed companies, including as founding Managing Director of Voyager Energy Limited. John holds a Bachelor of Science (Geology) from the University of Melbourne and is a member of the American Association of Petroleum geologists (AAPG).

Winfred Boeren

Manager Communications

General Manager Development Winfred graduated as a petroleum engineer and has 25 years of experience in the oil and gas industry. After postings for Shell International in Oman, New Zealand and the UK, he joined Todd Energy in 2002 as Onshore Assets Manager. In this role Winfred’s responsibilities have included the McKee oil field, the Mangahewa gas-condensate field, Todd’s 50% interest in the Kapuni field, Todd’s transition to Operator of the McKee and Mangahewa fields, and initiating the Mangahewa Expansion Project. Winfred holds a Master of Science from the Technical University of Delft, The Netherlands.

Andrew Clennett General Manager Operations Andrew has worked in the oil and gas sector for nearly 20 years. Prior to joining Todd Energy Andrew held senior management roles with Woodside Energy. He began his career as a drilling engineer and has led drilling and development projects in a number of countries. Andrew holds a Bachelor of Engineering (Hons) (Mechanical/Electrical) from the University of Tasmania, Australia and is a member of the Society of Petroleum Engineers.

Janet Carson Janet Carson has over a decade of experience in public affairs and stakeholder relations. Prior to joining Todd Energy Janet was Group Manager Communications at Contact Energy and previously with Shell International in The Netherlands. Janet is a qualified barrister and solicitor and holds a Bachelor of Law from Waikato University. She serves as a board member of the Energy Efficiency and Conservation Authority and is a member of the New Zealand Institute of Directors.

David Bradley Manager Health, Safety, Community and Administration David has held various international management positions for Halliburton in Health, Safety, Environment and Service Quality (HSE/SQ), and has extensive experience in the broad range of HSE/SQ functions over his career, including developing and implementing systems, behaviour based safety performance programs, and risk management. David holds a Diploma in Occupational Safety and Hygiene.

For more information:

Level 2, 32-38 Molesworth Street New Plymouth 4310 PO Box 802 New Zealand P +64 6 759 5350

Todd Energy Corporate Profile  

Todd Energy Corporate Profile

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