A large Maori trust hopes a relationship it is developing with an oil company will be a blueprint for Maori and oil companies to work together.

Te Runanga o Ngati Ruanui Trust, which overseas 8500 people, also hopes the relationship will provide opportunities for its young people.

The trust and New Zealand Energy Corp entered an agreement, at a hui in Stratford on Wednesday, under which the trust supports the company's exploration, development and production activities in south Taranaki.

The agreement sets out processes to share environmental and technical information.

The trust will provide cultural advice and support as the company moves through the resource consent, permitting and development process and trust members gain a first right for business, employment, educational and training opportunities.

"This agreement provides opportunities for our youth and is a good example of what can be achieved through direct engagement between iwi and oil companies," Ngapari Nui, trust chairman said.

Watching on at the meeting was David Binnie, general manager of New Zealand Petroleum and Minerals, the government agency that manages oil, gas, mineral and coal resources.

"This agreement represents a big step forward for the development of oil and gas in Taranaki," he said.

"I hope that other companies and iwi will see this as a blueprint for agreements elsewhere in New Zealand."

The agreement comes at a time of dissent about mineral exploration in New Zealand, particularly offshore oil and gas exploration. Prime Minister John Key faced anti-mining protesters at Waitangi Day celebrations earlier this month.

Taranaki is New Zealand's main oil and gas producing region.

NZ Energy Corp's first discovery well in Taranaki Basin, Copper Moki-1, started production in December. The company is production testing its Copper Moki-2 well and will drill a Copper Moki-3 well.