- Hon Shane Jones
The fourth petroleum exploration permit application since the removal of the exploration ban late last year has entered the open market competitive process, an encouraging signal of renewed confidence in investing in the country's sector, Resources Minister Shane Jones says.
New Zealand Petroleum & Minerals (NZP&M) has today opened a three‑month competitive process for an onshore and offshore exploration permit application in Waikato, south of Kāwhia Harbour.
The application was lodged by a joint venture between East Coast Energy Ventures Limited, Monumental Energy Corp NZ Limited, and 3TCF Limited. East Coast Energy Ventures Limited, the proposed operator, is a subsidiary of New Zealand Energy Corp, an incumbent gas producer operating in New Zealand and listed on the TSX Venture Exchange.
"This is the fourth application seeking to prospect or explore for oil and gas since the removal of the ban late last year. The sector is responding to clear signals from this Government that gas will remain an important part of New Zealand's energy mix in the decades to come," Mr Jones says.
"Our major gas fields are mature and production is trending downward. While New Zealand is investing heavily in renewables, gas continues to underpin electricity security and industrial activity - particularly during periods of peak demand or lower hydro generation."
Mr Jones says responsible new exploration is essential to managing future supply risk and maintaining a resilient energy system.
"It is encouraging to see interest from established operators within our sector with experience working in New Zealand's geology and regulatory environment."
The applicant has proposed a staged work programme, beginning with the reprocessing of existing 2D seismic data and seismic interpretation within the first 12 months, followed by further geological and geophysical studies.
The application will progress through NZP&M's open market competitive process, with competing applications accepted until 5pm, 12 August, 2026. Applications will be assessed in accordance with the criteria set out in the Minerals Programme for Petroleum 2025, and any permit award must also meet the requirements of the Crown Minerals Act 1991.
For more information see: Applications under the open market competitive process - New Zealand Petroleum and Minerals
