The move signals a policy shift toward energy security, reversing a prior government’s ban on offshore oil and gas exploration.
New Zealand has awarded its first offshore oil and gas exploration license since lifting a 2023 drilling ban. The license was granted to Australian firm EnZed Energy, marking a reversal of the previous government’s policy favoring low-carbon energy transitions.
The prior administration had imposed the ban to accelerate a shift away from hydrocarbons. The current government, prioritizing energy security, reopened bidding for offshore resources last year. No details on the license’s scope or expected output were disclosed.
The decision aligns with broader regional trends as governments balance climate goals with energy supply concerns.