New Zealand Approves New Oil and Gas Production as Energy Security Concerns Grow

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New Zealand's petroleum regulator has approved a 10-year mining permit for petroleum production in the Taranaki region. The decision aims to boost domestic natural gas supply and includes potential new prospects like the Oru site.

New Zealand’s petroleum and mining regulator has granted a 10-year petroleum mining permit in the onshore Taranaki region as the country looks to boost natural gas supply to the domestic market. The regulator, New Zealand Petroleum and Minerals (NZP&M), on Thursday granted Matahio NZ Onshore Limited a 10-year petroleum mining permit in the onshore Taranaki region for the Puka field, a small oil and gas field discovered in 2012. Included in the permit area is the promising Oru prospect, the New Zealand government said. The new petroleum…