New Zealand Petroleum and Minerals (NZP&M) has awarded EnZed Energy a 12-year petroleum exploration permit covering approximately 546 km² in the offshore Taranaki Basin.
The permit is the first new offshore exploration permit awarded since the New Zealand Government reversed the previous ban on offshore petroleum exploration. The acreage lies east of the producing Kupe gas field and includes the Kaheru prospect.
EnZed Energy, an Australian exploration company, will undertake a staged work programme beginning with the interpretation of existing seismic data and geological studies. The work will seek to improve understanding of the prospect’s geology and hydrocarbon potential before any decision is made on further exploration.
Resources Minister Shane Jones described the award as an indication of renewed investor interest in New Zealand’s offshore resource potential.
The government said the permit comes as the country’s existing gas fields continue to mature. New Zealand’s proven and probable natural gas reserves stood at 731 petajoules on 1 January 2026, representing a decline of 23% from the previous year and the lowest recorded level in more than two decades.
The permit was awarded following the conclusion of a competitive application process. Although the exploration programme does not guarantee a commercial discovery, the initial seismic and geological studies will provide a basis for assessing the Kaheru prospect and determining whether further exploration is warranted.
These themes will also be explored in depth at the EAGE Exploration Workshop: Unlocking New Zealand's Upstream Potential, taking place 1–2 September 2026 in Auckland. Bringing together industry, government and academia, the workshop will examine the latest developments in exploration, basin analysis, CCUS and the technologies shaping the future of New Zealand's subsurface sector.
For more details on the EAGE workshop in Auckland, speakers and how to register, please visit the event website.
