New Zealand Oil Explorers Rush to Secure Offshore Permits Before Election

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Oil and gas companies are racing to secure offshore exploration permits in New Zealand before a potential new government reinstates the drilling ban. The recent lifting of the drilling ban has so far not resulted in new drilling contracts, but firms are eager to act ahead of elections.

Small oil and gas companies are vying to secure exploration permits offshore New Zealand in the coming months before a potential reinstatement of the drilling ban in the country. Last year, New Zealand reopened for oil and gas exploration, ready to receive applications for exploration projects after a seven-year pause, following the lifting of a ban on such activity installed by the previous government. The upstream policy reversal has not led to new drilling contracts so far. But some of the oil and gas firms willing to secure permits…