Prime Minister Christopher Luxon's conservative government, which won power in 2023, ended the offshore exploration ban last year, seeking to avert gas shortages for industrial users and bolster power generation in dry years when hydropower output falls.
"This permit marks a major milestone for New Zealand's energy sector and shows that without doubt, we are open for business," Resources Minister Shane Jones said.
Jones, an advocate for the fossil fuel sector, said exploration remains important for understanding New Zealand's future energy options as existing gas fields mature.
New Zealand's proven and probable natural gas reserves fell 23 per cent from the previous year to 731 petajoules as of January 1, 2026, the lowest level since records began more than two decades ago.
Jones said the data underscored the need to better understand the country's remaining resource potential.
EnZed Energy received a 12-year petroleum exploration permit in the offshore Taranaki Basin, Jones confirmed.
EnZed Energy will undertake a staged exploration program beginning with a study of existing seismic data and geological studies to better understand the prospect's potential.
Seven oil and gas players have applied to secure offshore exploration rights ahead of New Zealand's election in November, as the opposition Labour party intends to reimpose its ban if it gets elected while honouring existing permits.
