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Iwi and environmental groups who combined to blockade oil explorers are celebrating the announcement New Zealand Oil & Gas is giving up its deep sea exploration permit 200 kilometres south of Dunedin.
The 5,000 square kilometre permit for the Toroa block was the last remaining oil and gas exploration permit outside of the Taranaki Basin.
The company, which is still active in the Kupe gas field in Taranaki, says adverse regulatory settings, dry wells in other prospects, and the effects of COVID-19 on drill rig costs and availability means it was not able to find partners to complete the work.
Greenpeace campaigner Amanda Larsson says it’s a win for the climate, for wildlife and for people power.
She says Aotearoa’s seabirds, whales, dolphins and other precious wildlife are safe from the risk of a catastrophic oil spill.
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