- Hon Shane Jones
The sale of Matahio Energy's New Zealand assets to independent oil and gas explorer and producer Sunda Energy is good news for New Zealand's petroleum sector and a further signal of growing international interest in the opportunities on offer, says Resources Minister Shane Jones.
The companies have today announced a sale and purchase agreement covering Matahio's New Zealand assets, which include well‑established onshore oil and gas operations in Taranaki - the producing Cheal, Cheal East and Sidewinder fields - as well as the Puka exploration permit.
"This transaction is the kind of signal we want to see as we work to reinvigorate New Zealand's petroleum sector," Mr Jones says.
"It shows there is still strong international interest in investing here, backing proven assets and bringing new capital, capability and ambition into our system.
"More than ever, a secure and productive petroleum sector matters for New Zealand's economic resilience and energy security. The entry of a gas‑focused explorer and producer like Sunda Energy helps strengthen that foundation and supports regions like Taranaki that have powered the sector for decades.
"The assets involved are established operations with existing infrastructure and a skilled local workforce. That's exactly where we want to see renewed investment and activity, particularly in the short-term to bolster our dwindling gas supply."
Sunda Energy, a listed London Stock Exchange company, will now seek change of control approvals from regulator New Zealand Petroleum and Minerals for affected permits.
"If those processes are satisfied, I see this as a positive signal of continued international confidence in New Zealand's oil and gas sector and in the future of onshore energy development in regions like Taranaki," Mr Jones says.
