Exploration funding has been tightened by companies, and Shell, undergoing a world-wide restructuring, is yet to announce whether it will stay in New Zealand or seek to exit altogether and sell more assets.
Energy and Resources Minister Simon Bridges this week launched the proposed block areas to be thrown open to tender for oil and gas exploration in 2017. He noted the sector is in a downturn with depressed global prices.
''I acknowledge the challenging low oil-price environment that industry is currently facing but we know commodity prices are cyclical.
''The Government remains committed to providing a stable and predictable regime,'' Mr Bridges said in a statement.
Green Party energy and resources spokesman Gareth Hughes said amid the opening of 508,691sq km to onshore and offshore mining was about 4000sq km of Maui's dolphin sanctuary ''up for grabs by oil and mining companies''.
''Opening up another half a million square kilometres to mining smacks of desperation from a Government that doesn't know how to build a sustainable, 21st-century economy,'' Mr Hughes said in a statement.
The 2016 block offer, which includes the Great South Basin, closed earlier this month, with expectations exploration permits will be awarded in December.
The consultation period for the 2017 block offer is open until November and the final areas for tendering will be announced in March next year.
Mr Bridges said consultation would be held with iwi and local authorities in coming months in the areas proposed for onshore and offshore exploration to ensure any sensitive areas were identified and considered before the tender round was finalised.
