Greymouth Gas Turangi had been granted a permit for an area covering about 70 square kilometres. File photo. Photo: 123RF
Only a single onshore petroleum exploration permit has been granted through the Block Offer 2020 competitive tender process.
Greymouth Gas Turangi had been granted a permit for an area covering about 70 square kilometres, north-west of Stratford in Taranaki, the Ministry of Business Innovation and Employment (MBIE) said in a statement.
The permit was for a period of 10 years commencing 1 April 2024 and was subject to work programme conditions.
Greymouth Gas Turangi is owned by Greymouth Petroleum Mining Group, which has been operating in New Zealand since 2000, and currently operated five petroleum mining permits in Taranaki.
An unspecified number of bids were submitted to Block Offer 2020 for evaluation by NZ Petroleum and Minerals, part of MBIE.
Block Offer 2020 was launched - following nominations of acreage by industry and consultation with iwi and hapū - on 28 March 2023 and closed 26 July.
It was the last Block Offer process committed to by the previous government following its 2018 amendments to the Crown Minerals Act prohibiting petroleum exploration beyond the onshore Taranaki region.
The current government has committed to reinstating petroleum exploration and rebuilding investor confidence in New Zealand as a secure destination for international investment in exploration, MBIE said in its statement.
Legislation to support this would be introduced to Parliament in the second half of the year, depending on other government priorities.