The beneficial Kupe gasfield will be opened by New Zealand in Taranki on Thursday. The liquid rich gas, which is found 4,000 meters below the Earth's surface, was discovered 25 years ago. But it was discovered to be too expensive to be tapped into as the demand, and also, the prices fluctuated globally.

It is a $1.3 billion project, which will be able to delve into major energy sources found in the coastal areas of Taranaki. NZ will be able to meet out the major portion of its energy needs.

About 250 petajoules of gas, a million tons of LPG and about 15 million barrels of oil condensate will be produced, according to Origin Energy Managing Director Grant King.

King said, "We felt round early 2000 that this project's time had come, Maui had begun to decline, New Zealand's growing and continues to grow and needs more energy and gas has a critical role to play in the energy market".

Though, only 10 people are required to run the Kupe plant, but 1,000 people were involved when it was constructed.

Energy Minister Gerry Brownlee shares that this project is an important milestone in the development of the petroleum sector. It is a joint venture between owner-operator Origin Energy Resources Kupe Limited (50%), Genesis Energy (31%), New Zealand Oil and Gas (15%) and Mitsui E&P Australia (4%).