Taranaki is the focus of nine oil and gas exploration permits granted by the Government this morning, covering more than 12,000sqkm.
Energy and Resources Minister Simon Bridges made the announcements of the Block Offer 2015 which approved six offshore and three onshore permits, all in the Taranaki Basin.
Mr Bridges says the committed work programme has an expenditure of $4.4 million with the potential of more than $364 million if all the contingent work is realised.
The permits were awarded to OMV NZ Limited in partnership with Mitsui E&P Australia, Todd Exploration, Mont D'Or Resources Limited and Petrochem Limited.
The Government has been criticised for allowing the oil and gas exploration to continue, especially following Prime Minister John Key joining the call for an end to fossil fuel subsidies at the recent Paris Climate Change Conference.
The Green Party says awarding the permits shows National isn't committed to stopping climate change.
"National couldn’t even wait a week after world leaders agreed on a plan to stop climate change before giving out new permits for foreign companies to drill for fossil fuels in New Zealand waters."
"Oil is last century's fuel and we simply cannot afford to drill for more of it if we’re going to achieve the goal agreed to in Paris, which is to drastically cut climate pollution caused by burning fossil fuels," energy spokesman Gareth Hughes says.
He says the drilling areas which are less than 20km from the coast could endanger some of the country's favourite holiday spots such as Golden Bay and the Marlborough Sounds.
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