New explorer seeks second petroleum permit
New petroleum exploration permit process launched for a 2,400 sq km area in the offshore Taranaki Basin, with Enzed Energy applying for a second permit targeting the Toutouwai prospect.
Enzed Energy, the first company awarded a new petroleum exploration permit since the offshore exploration ban was repealed, has submitted a second application for the Toutouwai prospect in the offshore Taranaki Basin. The application was lodged by ENZ Subsidiary 2 Limited, a wholly owned subsidiary of Enzed Energy Pty Ltd. Resources Minister Shane Jones highlighted the significance of the move, stating it reflects growing confidence in New Zealand’s resource potential and government efforts to restore certainty for explorers and investors.
The proposed permit area covers 2,400 square kilometres and is now subject to a three-month competitive process. Until February 2024, the Toutouwai prospect was held under an exploration permit by a joint venture between OMV New Zealand and TotalEnergies EP Aotearoa. A well drilled in 2020 confirmed hydrocarbons but was abandoned due to COVID-19 restrictions, leaving the prospect open for new exploration.
Enzed Energy has outlined a staged exploration programme, including geological and geophysical studies, resource assessments, and planning for a potential follow-up exploration well. The company’s proposal follows the government’s reopening of petroleum exploration opportunities, with eight permit applications now publicly notified, signaling renewed investor interest in New Zealand’s resource sector.
Competing applications for the permit will be accepted until 5pm on 18 January 2027. The assessment process will follow the Minerals Programme for Petroleum 2025 and the Crown Minerals Act, evaluating applicants’ technical and financial capability, compliance history, and proposed work programmes to ensure responsible exploration.