One onshore petroleum exploration permit granted

The successful bidder is Greymouth Gas Turangi Limited (Greymouth).

Greymouth was granted Petroleum Exploration Permit 61038 for an area covering 61.9 km², north-west of Stratford in onshore Taranaki.

The permit has been granted for a period of 10 years with a commencement date of 1 April 2024 and is subject to work programme conditions.

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 5 petroleum mining permits in Taranaki.

A number of bids were submitted for Block Offer 2020 and all underwent a robust evaluation by New Zealand Petroleum and Minerals (NZP&M), which is part of the Ministry of Business, Innovation and Employment (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 2023.

Block Offer 2020 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 an attractive and secure destination for international investment in exploration. Legislation to support this will be introduced to Parliament in the second half of the year, depending on other Government priorities.

For more information on the Block Offer 2020, visit:

Block Offer 2020(external link) — NZP&M