John Carnegie: Energy Resources Aotearoa CEO on the first offshore oil exploration permit being granted since the ban's reversal

The Government's granted its first permit to dig for offshore petroleum since reversing the oil and gas ban. 

Aussie company EnZed Energy's been awarded a 12-year exploration permit in the offshore Taranaki basin. 

Resources Minister Shane Jones calls it a major milestone and a clear signal confidence is returning. 

Energy Resources Aotearoa CEO John Carnegie told Mike Hosking that exploration is an inherently risky exercise and uncertain process, but the permit area covers a promising target. 

He says that with supportive regulatory settings, if a commercial discovery is made, it might be possible to get gas to market in as little as five or so years. 

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