en.Wedoany.com Reported - On July 14, 2026, Sunda Energy PLC has submitted a new Petroleum Exploration Permit (PEP) application, covering an area offshore in the Taranaki Basin on the west coast of New Zealand's North Island.

The permit covers an operational area of approximately 645 square kilometers, including the Awakino condensate gas field, which was first drilled in 1985.

The New Zealand Petroleum and Minerals (NZPAM) — the agency responsible for regulating the exploration and development of all Crown-owned mineral and petroleum resources in the country — has accepted this PEP application and initiated a three-month open market competitive process. During this period, NZPAM will invite other competitive bids, Sunda Energy stated.

After the competitive period ends, NZPAM will evaluate the application and any competitive bids, and make a final decision on permit award. If the application is successful, the firm commitment plan provided includes conducting technical studies on existing well and field data, as well as reprocessing 450 square kilometers of 3D seismic data within 36 months. The plan aims to delineate the gas field scope, prepare for potential future appraisal and development, while assessing the exploration potential of the area.

Sunda Energy plans to pursue a broader growth strategy in New Zealand, focusing on natural gas exploration, development, and production opportunities involving the Matahio NZ permit and other areas. The company stated that this PEP application is a key step in executing that strategy.