NZ First would spend $1 billion over a term of government on a National Subsurface Development Survey, building a single national dataset across energy, geothermal and CO₂ storage sites, and a framework to develop them. The case is that New Zealand’s offshore basins have never been surveyed with modern tools, that the odds of a major commercial discovery are above ninety percent, and that a find would fund a Norwegian-model sovereign wealth fund on royalties well above 50 percent.
A National Subsurface Development Survey pulling energy, geothermal and CO₂ storage sites into one national dataset, plus the framework to develop them. The document says existing seismic data is two technology generations old and covers only a fraction of the subsurface.
Survey costs are described as sitting at structural lows, and capital as moving into politically stable basins since the conflict in the Strait of Hormuz — but that to move, it needs modern data. The document points to Namibia, whose data acquisition campaign began in 2022, and Guyana, which went from first discovery to South America’s third-largest producer in under a decade.
Explorers would carry the risk of proving the fields on terms the document calls fair, with a royalty well above 50 percent on all extractions as production matures. Any discovery would be used to end the gas shortfalls it blames for high power prices, drive local fuel costs down, export oil and gas, and establish a Norwegian-model sovereign fund turning the find into permanent national wealth and regional investment.
The document explicitly contrasts itself with what it calls tinkering around the edges with solar panel plans, arguing that does next to nothing for fuel and gas insecurity, and frames the issue as economic sovereignty rather than energy policy — New Zealand ceasing to be beholden to other nations’ decisions.
“New Zealand potentially holds Norway-scale energy prospects in our offshore basins and that potential has never been accurately surveyed or characterised with modern tools.”
“Analysis shows that the odds of New Zealand having a major commercial discovery in our basins is well above ninety percent.”
“We would set fair terms while explorers carry the risk of proving the fields — and over time place a royalty well above 50% on all extractions as production matures.”
“Other parties want to ‘tinker around the edges’ with solar panel plans – which does next to nothing to address fuel and gas insecurity”
Points the document defers or leaves undefined. These are gaps in the document, not criticisms of the policy.
Which party holds a published position on which topic.
Swipe across to see all 11 topics — the party column stays put.
| Party | Economy | Housing | Health | Education | Climate | Environment | Crime & Justice | Treaty & Māori Affairs | Immigration | Foreign Policy | Democracy & Government |
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| National |
| ∅ |
| Labour | ∅ | ∅ | ∅ | ∅ | ∅ | ∅ |
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| NZ Loyal | ∅ | ||||||||||
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