New Zealand grants first offshore petroleum permit since reversing exploration ban
SYDNEY - New Zealand's centre-right coalition government on Wednesday granted its first petroleum exploration permit since reversing a ban on offshore exploration imposed by former Prime Minister Jacinda Ardern's Labour government.
Prime Minister Christopher Luxon's conservative government, which won power in 2023, ended the offshore exploration ban last year, seeking to avert gas shortages for industrial users and bolster power generation in dry years when hydropower output falls.
"This permit marks a major milestone for New Zealand's energy sector and shows that without doubt, we are open for business," Resources Minister Shane Jones said.
Jones, an advocate for the fossil fuel sector, said exploration remains important for understanding New Zealand's future energy options as existing gas fields mature.
New Zealand's proven and probable natural gas reserves fell 23% from the previous year to 731 petajoules as of January 1, 2026, the lowest level since records began more than two decades ago.
Jones said the data underscored the need to better understand the country's remaining resource potential.
Australian private company EnZed Energy received a 12-year petroleum exploration permit in the offshore Taranaki Basin, Jones said.
EnZed Energy will undertake a staged exploration programme beginning with a study of existing seismic data and geological studies to better understand the prospect's potential.
Seven oil and gas players have applied to secure offshore exploration rights ahead of the country's election in November, as the opposition Labour party intends to reimpose its ban if it gets elected while honouring existing permits.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Projects
Latest Multimedia
Latest News
Showroom
AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa
VISIT SHOWROOM
The Beneficiation Academy is a certified training institution that follows all compliance legislation and is accredited with various Sector...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
