An onshore petroleum exploration permit has been granted in Taranaki after a competitive tender process, regulators have announced.
It comes as the Government commits to bringing back offshore oil and gas exploration.
The successful bidder announced today is Greymouth Gas Turangi Limited.
The company has been granted a permit for a 62sq km area northwest of Stratford for a period of 10 years. Its new permit allows the holder to search for Crown-owned reserves of oil and gas in the area set down.
Block Offer 2020 was launched, following nominations of acreage by industry and consultation with iwi and hapū, on March 28, 2023 and closed July 26, 2023.
It was the last block offer process committed to by the previous government following its 2018 decision to prohibit petroleum exploration beyond the onshore Taranaki region.
A number of bids were submitted and underwent a robust evaluation by NZ Petroleum and Minerals, which is part of MBIE, the agency said.
Resources Minister Shane Jones said: "This is yet another step taken in New Zealand’s journey back to resilience, taking advantage of the natural bounty of our country to create jobs and boost regional and national economic development.
"The coalition government will reinstate the permitting of new petroleum exploration and rebuild confidence that New Zealand is an attractive and reliable option for investors.
"I will be introducing a bill later this year that will overturn the previous government’s ban on new permits for petroleum exploration beyond the onshore Taranaki region."
Greens co-leader James Shaw said "the Government’s new timeframe for expanding oil and gas exploration starts the clock on the time remaining to save the oil and gas ban.
"The Prime Minister has talked about 'tough choices' recently. Well, the choices they are making include reopening New Zealand waters to the fossil fuel industry instead of confronting the climate crisis with the urgency it demands."
Shaw made the comments in a media release responding to Jones.
Greymouth Gas Turangi Limited is owned by Greymouth Petroleum Mining Group Limited.
The Greymouth group of companies has been operating in New Zealand since 2000, and currently operates five petroleum mining permits in Taranaki, according to MBIE.
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