Sunda Energy, the AIM-listed exploration and appraisal company focused on gas assets in the Asia-Pacific region, is seeking to expand its portfolio by applying for an exploration permit for an area off the coast of New Zealand.
Sunda Energy has applied for a new petroleum exploration permit (PEP) within the offshore area of the Taranaki Basin on the west coast of New Zealand’s North Island, covering approximately 645 square kilometres, which contains… Owakino gas condensate field It was originally excavated in 1985.
The move follows the company’s announcement from April 2026 of the conditional acquisition of Matahio Energy NZ, highlighting the company’s intention to pursue a broader growth strategy in New Zealand focused on gas exploration, development and production opportunities, both on and off permits.
The PEP application is said to represent a key step in implementing this strategy, as the firm commitment program submitted under the application consists of technical studies of existing wells and field data and, within 36 months, the reprocessing of 450 square kilometers of 3D seismic data.
The program aims to identify the gas field in order to evaluate and develop it in the future, in addition to evaluating the exploration potential in the region. The PEP application has been accepted by New Zealand Petroleum and Minerals (NZPAM) to enter the open market competitive process.
As a result, the application is now entering a three-month period during which competing bids will be invited. When competing, the government agency responsible for regulating the exploration and development of the country’s Crown-owned mineral and petroleum resources will evaluate the application and any competing bids before making a final decision on whether to grant the permit.
Dr. Andy ButlerSunda CEO commented: “Sunda’s application for an exploration permit covering the offshore gas discovery at Awakino further demonstrates our intention to grow a meaningful business in New Zealand alongside the previously announced conditional acquisition of the Matahio NZ production business.
“This application is consistent with the New Zealand Government’s current policy direction to support domestic gas supply and energy security. We look forward to making further announcements about our initiatives in New Zealand in due course.”
Boost your brand with marine energy ⤵️
Steal the spotlight and establish your brand in the heart of the outside world!
Join us to make a greater impact and grow your presence at the core of the marine energy community!
