A new offshore petroleum exploration proposal has been opened to competing applications after Sunda Energy applied for a permit covering part of the northern Taranaki Basin, marking the sixth petroleum prospecting or exploration application accepted since the Government lifted the ban on new offshore oil and gas exploration.
New Zealand Petroleum and Minerals (NZP&M) has begun a three-month competitive application process for the proposed 645-square-kilometre permit area, located within New Zealand’s territorial waters between northern Taranaki and southern Waikato.
Resources Minister Shane Jones said Sunda Energy’s application reflected growing investor interest in New Zealand’s petroleum sector following recent policy changes.
“Sunda Energy is a potential new participant in New Zealand’s petroleum sector, and I welcome its interest. New entrants bring capital, expertise and competition, which are all important ingredients for a healthy and active sector,” Jones said.
Sunda entered the New Zealand market in April through an agreement to acquire Matahio Energy’s New Zealand assets, including the producing Cheal, Cheal East and Sidewinder fields and the Puka exploration permit. That acquisition remains subject to ministerial approval and is currently being assessed by NZP&M.
The proposed exploration area includes the previously identified Awakino gas condensate discovery and other prospective targets. Sunda’s work programme proposes geological and seismic studies, including reprocessing existing three-dimensional seismic data to identify potential drilling locations.
Jones said the six exploration and prospecting applications now under consideration ranged from frontier acreage to more established exploration areas and demonstrated continued industry interest in the country’s offshore petroleum resources.
Competing applications for the permit will be accepted until 14 October 2026, after which NZP&M will assess proposals under the Crown Minerals Act and the Minerals Programme for Petroleum 2025, including applicants’ technical capability, financial capacity, compliance history, health and safety performance, environmental systems and proposed exploration programmes.
