EnZed Energy has received New Zealand’s first new offshore petroleum exploration permit since the government reversed its ban on new offshore oil and gas exploration.
New Zealand Petroleum and Minerals awarded the 12-year permit after a competitive application process that closed six months earlier. The permit covers approximately 546 square kilometres in the offshore Taranaki Basin, east of the producing Kupe gas field.
The award comes as New Zealand’s domestic natural gas reserves continue to decline. Government figures showed proven and probable reserves at 731 petajoules as of 1 January 2026, down 23% year on year and at their lowest level in more than two decades.
The permit area includes the Kaheru prospect. EnZed Energy plans to begin by reviewing existing seismic data and geological information before deciding on further exploration work. The staged programme will assess the area’s hydrocarbon potential.
Resources Minister Shane Jones said the permit was intended to demonstrate that New Zealand was again seeking investment in its resource sector following the policy change.
Jones said the government had reversed the offshore exploration ban to restore investor confidence and support long-term energy security. He also said regulatory changes had been introduced to provide greater certainty for investors and improve approval processes.
According to the government, natural gas remains part of New Zealand’s energy mix by supporting electricity generation when renewable output is low and supplying fuel and feedstock to industries.
Jones said exploration does not guarantee a discovery but is necessary to determine what resources may be available. The permit is the first offshore exploration award issued since the previous prohibition on new permits was overturned.
