Sunda Energy, the AIM-quoted exploration and appraisal company focused on gas assets in the Asia-Pacific region, has updated that its application for an exploration permit within the offshore area of the Taranaki Basin on the west coast of New Zealand’s North Island has now become exclusive.
Sunda announced on 14 July 2026 that it had submitted an application under the New Zealand open market competitive process for a new petroleum exploration permit ('PEP') in the Awakino area, offshore northern Taranaki Basin. The PEP application area, amounting to approximately 645 km2, contains the Awakino-1 and Awakino South-1/ST1 gas condensate field, originally discovered in 1985. In summary, the firm committed programme consists of technical studies of the existing well and field data and, within 36 months, reprocessing of 450 km2 of 3D seismic data. The programme 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 3-month period during which competing offers were invited (which ended today), the PEP application is now exclusive. 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. The Company also conducted a series of introductory consultation meetings as part of a planned programme of stakeholder engagement as Sunda seeks to become an active and responsible participant in New Zealand's energy sector.
Dr Andy Butler, Sunda 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. The Company will make further announcements on our New Zealand initiatives in due course.'
Source: Sunda Energy
