Locals, here's something to keep an eye on—offshore petroleum exploration is making a comeback.

The Coalition Government has introduced the Crown Minerals Amendment Bill, aimed at reinstating offshore oil and gas exploration, a key step in addressing New Zealand’s ongoing energy security concerns.

Resources Minister Shane Jones highlighted the urgency of the situation, stating, “Natural gas is critical to a secure and affordable supply of energy in New Zealand—now and into the future.”

The Bill reverses the 2018 ban on new oil and gas exploration beyond onshore Taranaki, a move that Jones says will reinvigorate investment in the sector and ensure stable energy supplies for Kiwis.

The current decline in New Zealand's gas fields has led to rising costs for consumers and industrial users alike.

Limited gas supply has been squeezing large industrial companies, some of which have halted production or shut down entirely due to skyrocketing energy prices.

The Bill aims to provide more certainty for investors and encourage increased production to mitigate these issues.

On top of reviving offshore exploration, the Bill proposes changes to decommissioning regulations to better align with international best practices, giving the sector the confidence to operate without excessive red tape.

"This legislation will better balance the regulatory burden and ensure long-term energy affordability," Jones added.

Alongside these changes, the Bill also introduces new provisions to simplify the permitting process for small-scale gold mining, offering a more streamlined approach to non-commercial activities.

The Bill is set to have its first reading today, and the Government aims to pass it by the end of the year following a condensed select committee process.

This is part of a broader strategy to ensure New Zealand’s energy future remains secure while supporting regional economies and job creation.