Sunda Energy plc has secured exclusivity over its application for an exploration permit within the offshore area of the Taranaki Basin, off the west coast of New Zealand’s North Island.
The news follows an open market competitive process for a new petroleum exploration permit in the Awakino area, offshore northern Taranaki Basin.
The application area covers 645 km2 and contains the Awakino-1 and Awakino South-1/ST1 gas condensate field.
Sunda plans technical studies of the existing well and field data and reprocessing of 450 km2 of 3D seismic data to assess the field for possible appraisal and development, and to evaluate the area’s exploration potential.
“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,” said chief executive officer Dr Andy Butler.
“We look forward to working with the New Zealand authorities as they complete their evaluation of Sunda’s proposal.”