Simon Bridges has answered the ‘complex’ questions we asked him via Shane Arden at last. The letter basically says that the law was complied with and that the Government has insisted that Anadarko have a $26 million dollar insurance policy.
For the Gulf Oil spill, BP has put aside $42 billion for the cost of the cleanup and the total cost may be as high as $90 billion. Anadarko paid $4 billion for its share of this cost.
So if the total cost of a similar spill in New Zealand was $42 billion, then Anadarko is insured for $26 million equal to 0.06% of the cost. Mr Bridges says that this amount will be increased in the New Year. He has not said how much the cover level will be set at.