The New Zealand government granted a license to a private enterprise on the 29th, allowing the latter to carry out 12-year oil exploration in the offshore area of the Taranaki Basin. This is the first case since the relevant ban was lifted last year. New Zealand's Minister of Resources Shane Jones called the move an “important milestone” for the country's energy industry, indicating that the government is “open to commercial investment.” He said that as existing gas fields gradually dry up, new exploration is critical to meet New Zealand's future energy needs.

The New Zealand government granted a license to a private enterprise on the 29th, allowing the latter to carry out 12-year oil exploration in the offshore area of the Taranaki Basin. This is the first case since the relevant ban was lifted last year. New Zealand's Minister of Resources Shane Jones called the move an “important milestone” for the country's energy industry, indicating that the government is “open to commercial investment.” He said that as existing gas fields gradually dry up, new exploration is critical to meet New Zealand's future energy needs.