Articles tagged with Taranaki Basin
New Offshore Petroleum Exploration Permit Granted in Taranaki Basin, NZ
3 weeks ago | 260 viewsNew Zealand has granted its first new offshore petroleum exploration permit since reversing the ban, awarding Australian company EnZed Energy a 12-year permit for a 546 sq km area east of the Kupe gas field in the Taranaki Basin. This move signals renewed investor confidence and aims to address declining natural gas reserves, which have dropped 23% to the lowest level in over two decades, emphasizing the importance of exploration for future energy security. The government highlights that natural gas remains crucial for electricity generation and industry, and exploration is essential to assess New Zealand’s remaining resource potential.
Tags: Shane Jones EnZed Energy New Zealand Petroleum and Minerals Kupe gas field Taranaki Basin Kaheru prospect Coalition Government petroleum exploration natural gas energy securityNew Petroleum Exploration Permit Application Invites Investment in NZ Offshore Basin
1 month ago | 336 viewsResources 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.
Tags: Shane Jones Sunda Energy New Zealand Petroleum and Minerals Matahio Energy Taranaki Basin Cheal Sidewinder Puka Awakino Crown Minerals ActRenewed Petroleum Exploration in Taranaki Basin as NZ Lifts Ban
1 month ago | 386 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 Taranaki