24 September 2026
EnZed Energy Welcomes Government Support for Kaheru
EnZed Energy has welcomed the Government’s decision to commit up to $21.5 million from the Gas Security Fund to support an exploration well at the Kaheru prospect in offshore Taranaki, helping the company assemble the investment needed to test a potential material source of new domestic gas.
Executive Chairman Neil Young said the Government’s commitment would help the company attract the balance of private investment required to take Kaheru through to drilling.
“We welcome the Government’s support for Kaheru. Offshore exploration requires very substantial investment, and this commitment gives us a stronger basis on which to bring together the partners and capital needed to drill the prospect.
“New Zealand needs more natural gas to power industries and provide the fuel needed to support our largely renewable electricity system. We are proud to be playing a role in New Zealand’s energy future with the exploration of Kaheru.
“Kaheru is a well understood geological opportunity in a basin with a long history of successful gas production that has played an important role in Taranaki and New Zealand’s prosperity. The task now is to build on the technical work and put the commercial arrangements in place to test its potential,” Mr Young says.
EnZed brings together a team with decades of experience in petroleum exploration, project development and financing, including extensive knowledge of New Zealand’s geology and experience working on energy projects here and internationally.
“A commercially viable discovery would strengthen New Zealand’s long-term energy security and support the industries and electricity generation that rely on natural gas. Any future production would depend on the results of exploration, further appraisal and development decisions,” Mr Young says.
EnZed will continue to engage constructively with regulators, iwi, stakeholders and the wider community as its work programme progresses.
Editor’s Note:
Kaheru lies off the South Taranaki coast, adjacent to the producing Kupe field. Its assessment draws on extensive existing geological and seismic information, with no new seismic acquisition proposed.
A successful discovery could offer the opportunity to use existing infrastructure, subject to further assessment and commercial agreements.
EnZed expects drilling to be undertaken through a joint venture of oil and gas companies, as is standard practice in international offshore exploration. Timing will depend on securing partners and a drilling rig, completing the technical work and obtaining regulatory approvals.
About EnZed Energy
EnZed Energy is an independent energy company focused on identifying and developing energy opportunities in New Zealand. The company combines extensive international technical and commercial experience with deep knowledge of New Zealand's petroleum geology and regulatory environment.
Its leadership team has collectively spent decades discovering, evaluating, financing and developing energy projects across Australasia and internationally.
Media contact: Ben Craven, +64 22 079 2788