There is a new setback to the Government's hopes of boosting the economy through offshore oil drilling.
One of the world's biggest exploration companies has again put off plans to head to this country.
New Zealand does not have deep sea oil wells of the kind used in places like the Gulf of Mexico.
But that was supposed to change when Anadarko said it would drill in deep waters off the Dunedin and Taranaki coasts last summer.
But for the second time in as many years it has now delayed drilling by another 12 months.
"Drilling rigs are in very short supply and we need a specialised piece of equipment because of the sea states that exist in New Zealand. So that's been the primary the reason why we haven't been able to get going this coming summer," said Alan Seay of Anadarko New Zealand.
The Government has in recent weeks been talking up the potential to grow the economy from increased mining activity. And the delay in getting deep sea oil exploration underway will come as a blow.
The Energy Minister Phil Heatley is putting on a brave face.
"Permit conditions are such that they need to do exploration before 2016. So it's still before time. I'm clearly keen to get exploration companies involved sooner rather than later," Heatley said.
Anadarko was a partner with BP in the Deep Horizon well that exploded and led to a huge spill in the Gulf of Mexico in 2010.
Environment groups say the delay is a huge relief.
"We believe deep sea oil drilling is incredibly risky. And so obviously we now have one more year in which to try and change the Government's mind about going ahead with such a project," said Simon Boxer of Greenpeace.
Parliament's environmental watchdog warns that proposed legislation designed to regulate deep sea oil drilling off New Zealand's coast is flawed and needs to be fixed.