Oil and gas exploration applications have reopened for the first time since the 2018 ban.

Companies can now apply for new prospecting and exploration permits anywhere in the country - not just onshore Taranaki.

An open market application pathway's also being introduced to allocate new permits, in addition to the current competitive tender process.

Energy Resources Aotearoa chief executive John Carnegie says there's concerns among investors about the ongoing certainty of this, given the backlash from the opposition.

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