Approximately 96 percent of ‘New Zealand’ is underwater – a fact that holds significant implications for our economic potential and industries such as oil and gas. New Zealand is resource-rich, yet only fractional amounts of our seafloor have been mapped or examined in detail.
New Zealand has 17 distinctive basins in our Exclusive Economic Zone (EEZ) that have possible commercial quantities of oil and gas resources. Recent exploration activity has focused on five main areas. These remain the most likely areas for continued exploration and development in the years ahead.