Articles tagged with Petroleum Exploration
Renewed Petroleum Exploration in Taranaki Basin as NZ Lifts Ban
2 hours ago | 26 viewsNew Zealand has received its fifth petroleum permit application since lifting the exploration ban, with Taranaki Energy Pty Ltd applying to prospect in deepwater offshore Taranaki, an underexplored but highly prospective area. The proposed two-year work program involves seismic data reprocessing, basin modeling, and target identification to guide future investments, reflecting renewed momentum and growing confidence in the sector. The government’s open market regime allows continuous competitive applications, which will be assessed based on technical, financial, and compliance criteria to support energy security and economic resilience.
Tags: Shane Jones Taranaki Basin New Zealand Petroleum and Minerals Taranaki Energy Pancontinental Energy petroleum exploration exploration ban Minerals Programme for Petroleum 2025 Crown Minerals Act 1991 deepwater offshore TaranakiNew Zealand Petroleum Exploration Permits Open in September: Crown Minerals Amendment Bill Impact
11 months ago | 1611 viewsThe Crown Minerals Amendment Bill, following its third reading, will allow operators to apply for new petroleum exploration permits starting in September. The Bill removes the ban on oil and gas exploration beyond onshore Taranaki, introduces a new tier of permit for small-scale non-commercial gold mining, and aims to boost investment in Crown-owned minerals. Changes in liability for decommissioning costs and the need for clarity in regulatory burden and risk are also addressed in the Bill to enhance investor confidence and energy security.
Tags: Shane Jones petroleum exploration permits Crown Minerals Amendment Bill oil and gas exploration energy security natural gas decommissioning investment liability