Dec. 29 (Bloomberg) -- New Zealand’s government has purchased options to buy oil and fuel to help meet its International Energy Agency reserve commitments next year.

The contracts, for the supply of 107,000 tons of gasoline and crude oil in the event of a fuel emergency during 2009, cover stockpiles held in Japan and the U.K., Energy Minister Gerry Brownlee said in an e-mailed statement yesterday.

New Zealand is required by the International Energy Agency to hold 90 days of fuel to help sustain global energy demand in the event of a supply disruption from war or natural disaster. Increasing domestic oil production cut next year’s volumes from the 285,000 tons contracted this year and 406,000 tons in 2007.

Production from the OMV AG-led Maari oil field due early next year may avoid the need for additional reserves in 2010, Brownlee said.

To contact the reporter on this story: Gavin Evans in Wellington at gavinevans@bloomberg.net

Last Updated: December 28, 2008 15:39 EST