Fourth Petroleum Exploration Permit Application Enters Competitive Process in New Zealand

New Zealand Resources Minister Shane Jones confirmed on May 12, 2026, that a fourth petroleum exploration permit application has officially entered the country's open market competitive process. This development follows the government's strategic decision to revitalise the domestic energy sector and address critical supply concerns that have emerged over recent years. The application, which covers both onshore and offshore areas in the Waikato region, represents the latest step in the government's programme to attract international and domestic investment into the petroleum industry following the lifting of previous restrictions.

The application was submitted by a joint venture comprising East Coast Energy Ventures Limited, Monumental Energy Corp NZ Limited, and 3TCF Limited. Within this partnership, East Coast Energy Ventures Limited, a subsidiary of New Zealand Energy Corp, has been designated as the proposed operator for the project. New Zealand Energy Corp maintains a public listing on the TSX Venture Exchange, signalling continued international interest in the New Zealand energy landscape. The permit area is specifically situated south of Kāwhia Harbour, encompassing a mix of land and sea territories within the Waikato Basin.

Competitive Process and Work Programme

New Zealand Petroleum & Minerals (NZP&M), an entity within the Ministry of Business, Innovation and Employment (MBIE), initiated the three-month competitive process for this application on May 12, 2026. This process allows other interested parties to submit competing bids for the exploration rights in the specified area, ensuring that the most robust work programme and capable operator are selected in accordance with the Crown Minerals Act 1991.

The proposed work programme for this specific application is structured to begin with the reprocessing of existing 2D seismic data and seismic interpretation within the first 12 months of the permit being granted. This initial phase is critical for identifying potential sub-surface structures that may contain hydrocarbons. Following the completion of this data analysis, the joint venture intends to proceed with further geological and geophysical studies to refine their understanding of the resource potential south of Kāwhia Harbour.

Policy Reversal and Energy Security

The opening of this application process is a direct result of the Crown Minerals Amendment Act 2025, which became law in August 2025. This legislation repealed the offshore oil and gas exploration ban that had been introduced by the previous Labour-led government in 2018. Following the passage of the Act, applications for new petroleum exploration permits reopened in September 2025. The current coalition government, which took office in late 2023, campaigned on reversing the ban to bolster national energy security and mitigate the risks associated with declining domestic production.