New Petroleum Exploration Permit Application Invites Investment in NZ Offshore Basin
Resources Minister Shane Jones has welcomed Sunda Energy's new petroleum exploration permit application in the offshore northern Taranaki Basin, marking the sixth such application since the government lifted the offshore oil and gas exploration ban. Sunda Energy, having entered the New Zealand market through acquiring Matahio Energy’s assets, seeks to conduct geological and seismic studies over a 645 sq km area with known potential, aiming to evaluate drilling targets. The competitive application process, open until October 14, 2026, reflects growing investor interest that could enhance New Zealand’s energy security, create jobs, and boost economic resilience.