Sunda Energy, an active exploration and evaluation company in the gas asset sector in the Asia-Pacific region, has overcome a key hurdle in New Zealand and secured exclusive rights to advance its oil exploration license application in the old Awakino gas field, located off the coast of the Taranaki Basin.
Details of the Exploration License Application
The company has recently confirmed that it submitted its application under New Zealand's competitive free market process for a new Petroleum Exploration Permit (PEP) in the Awakino area in July 2026. This area, covering approximately 645 square kilometers, includes the Awakino-1 and Awakino South-1/ST1 gas and condensate fields, which were discovered in 1985.
Future Plans and Technical Assessment
The plan that Sunda Energy has for this field includes technical studies on field data and existing wells, as well as reprocessing 450 square kilometers of three-dimensional seismic data over the next 36 months. This program is designed to identify the gas field for future assessment and development, as well as to evaluate the exploration potential of the area.
Following a three-month period during which competitive proposals were evaluated, New Zealand Petroleum and Minerals (NZPAM), which is responsible for regulating the exploration and development of government mineral and oil resources, will now conduct a thorough review of this proposal. The granting of the license and its timing are not guaranteed.
During the competitive period, Sunda Energy continued to assess the technical aspects of the application area and conducted preliminary consultation meetings as part of its planned engagement with stakeholders. The company aims to become an active and responsible player in New Zealand's energy sector.
Dr. Andy Butler, CEO of Sunda Energy, stated: “We are pleased that our application for an offshore exploration license in the Awakino gas field area has reached the exclusive stage. We look forward to working with New Zealand authorities to complete the assessment of Sunda's proposal.”
