Resources Minister Shane Jones confirmed the permit, granted to Matahio NZ Onshore Limited, will bolster gas availability amid declining national reserves. The Puka field, discovered in 2012, holds an estimated 170,000 barrels of oil and 1.3 billion cubic feet of gas. Independent assessments suggest the adjacent Oru prospect could yield an additional 1.8 million barrels of oil and 1.2 billion cubic feet of gas.
New Zealand Grants Taranaki Drilling Permit to Boost Gas Supply
Facing a tightening domestic energy market, New Zealand regulators have issued a 10-year mining permit for the Puka field in the Taranaki region. The move, which includes the promising Oru prospect, signals a shift back toward hydrocarbon extraction to support the nation's electricity grid and industrial base.
Gas remains a vital component of the country’s energy mix, particularly for electricity generation during periods of low hydro output. While the light, high-quality oil extracted from Taranaki is typically refined abroad, the natural gas is earmarked for domestic industrial use. This decision follows the government's recent reversal of a long-standing drilling ban, marking the latest step in a push to prioritize energy security over the previous administration's strict focus on renewable-only transitions.
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