UK-listed Sunda Energy has submitted an application for a petroleum exploration permit (PEP) covering approximately 645km² in the offshore region of the Taranaki Basin, situated along the west coast of New Zealand’s North Island.
The permit area includes the Awakino gas condensate field, originally drilled in 1985, as well as other identified exploration prospects.
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New Zealand Petroleum and Minerals (NZPAM) has accepted Sunda Energy’s application for entry into its open market competitive process. This initiates a three-month period, ending on 14 October 2026, during which other companies may submit competing offers for the same permit area.
After this period, the NZPAM will review all applications and determine the allocation of the permit based on established assessment criteria.
According to information disclosed by Sunda Energy, the work programme offered in its application includes technical studies of existing well and field data.
The company also proposes to reprocess 450km² of 3D seismic data within 36 months of the permit award. The aim of these studies is to delineate the Awakino gas field, support further appraisal and possible development, and assess broader exploration prospects within the permit boundary.
Sunda Energy CEO Andy Butler said: “Sunda’s application for an exploration permit covering the existing nearshore Awakino gas discovery further demonstrates our intent to grow a meaningful business in New Zealand in tandem with the previously announced conditional acquisition of the Matahio NZ production business.
“This application is consistent with the current New Zealand Government’s policy direction to support domestic gas supply and energy security. We look forward to making further announcements on our New Zealand initiatives in due course.”
This permit application comes shortly after Sunda Energy announced, in early April 2026, the conditional acquisition of Matahio Energy NZ. That transaction, if completed, would expand Sunda Energy’s presence in New Zealand with producing assets at the Cheal, Cheal East and Sidewinder fields, as well as the Puka exploration permit.
The acquisition is currently subject to ministerial approval and the relevant applications are under consideration by NZPAM officials.
New Zealand Resources Minister Shane Jones said: “This is the sixth petroleum prospecting or exploration permit application accepted since the government removed the offshore oil and gas exploration ban, and another encouraging sign that investors are taking a fresh look at New Zealand’s resource potential.
“Sunda Energy is a potential new participant in New Zealand’s petroleum sector, and I welcome its interest. New entrants bring capital, expertise and competition, which are all important ingredients for a healthy and active sector.”
The proposed permit area is located within offshore territory stretching between northern Taranaki and southern Waikato. Sunda Energy’s application outlines plans for detailed geological and seismic analysis to evaluate drilling targets and prospectivity.
All bids for the permit will undergo review by the NZPAM, which will measure each applicant against the standards outlined in the Minerals Programme for Petroleum 2025 and the Crown Minerals Act.
The evaluation process will consider technical and financial resources, as well as the applicant’s history of regulatory compliance. It will also assess systems for managing workplace safety and environmental risks, along with the details of the proposed work plan for the acreage.
Upon conclusion of the competitive process, the NZPAM will make a final determination on permit allocation.
Separately, in April 2026, Sunda Energy and Finder Energy, via their subsidiaries, agreed a non-binding letter of intent to collaborate on securing a drilling rig for their respective offshore projects in Timor-Leste.
