London-listed Sunda Energy, the AIM-quoted exploration and appraisal company focused on gas assets in the Asia-Pacific region, has cleared a key hurdle in New Zealand, securing exclusive rights to advance its petroleum exploration permit application over the decades-old gas-condensate field in the offshore Taranaki Basin.
Sunda Energy is making progress in obtaining the rights to develop the Awakino gas field within the offshore area of the Taranaki Basin on the west coast of New Zealand’s North Island after its exploration permit application officially turned exclusive following the close of the competitive window.
The company confirmed the application submission under the New Zealand open market competitive process for a new petroleum exploration permit (PEP) in the Awakino area in July 2026. The PEP application area, amounting to approximately 645 square kilometers, contains the Awakino-1 and Awakino South-1/ST1 gas condensate field, originally discovered in 1985.
The firm committed program, which consists of technical studies of the existing well and field data and, within 36 months, reprocessing of 450 square kilometers of 3D seismic data, is designed to delineate the gas field for possible future appraisal and development, along with the evaluation of the area’s exploration potential.
Following a three-month period during which competing offers were invited, New Zealand Petroleum and Minerals (NZPAM), the government agency responsible for regulating the exploration and development of the Crown’s mineral and petroleum resources, will now consider the proposal in detail before deciding on granting the permit, the award and timing of which are not guaranteed.
During the competitive period, Sunda continued to evaluate technical aspects of the application area and conducted a series of introductory consultation meetings as part of a planned program of stakeholder engagement as it seeks to become an active and responsible participant in New Zealand's energy sector.
Dr. Andy Butler, Sunda’s CEO, commented: “We’re pleased that our application for an offshore exploration permit in the area of the exciting Awakino gas discovery has progressed to the exclusive phase. We look forward to working with the New Zealand authorities as they complete their evaluation of Sunda’s proposal.”