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A Special Procurement Committee for the Mineral Resources Authority (MRA), under the National Procurement Commission (NPC), was officially sworn in on Friday, 25 October, at the NPC office in Port Moresby. The formation of this committee is a requirement under the NPC Act 2021, which mandates that government statutory bodies and agencies with the capacity to procure assets and services establish internal procurement committees. The committee is chaired by MRA Managing Director Jerry Garry, with Samson Metofa, First Assistant Secretary of the Financial Reporting & Compliance Division (FAS-FRCD) of the Department of Finance, serving as Deputy Chair. Committee members include Lilian Vevara from the Office of the State Solicitor, Frank Hare of the NPC, and six senior MRA staff members: Nathan Mosusu – Executive Manager, Corporate Services Stanley Nekitel – Executive Manager, Regulatory Operations Division Thomas Vutun – Manager, Finance Jerry Naime – Officer-in-Charge (OIC), Development Coordination Division Sharon Haihavu – Acting Manager, Legal Saki Beka – Acting Manager, Special Projects Unit The committee was sworn in by Counsel Barry Mol and will oversee the internal procurement of goods and services for the MRA, with a financial threshold of up to K5 million. The committee is responsible for providing regular reports to the NPC. Mr Garry, as both Chairman of the committee and MRA’s Managing Director, highlighted the challenges the MRA has previously faced in securing essential assets and services. He noted that establishing this committee is an important step towards streamlining the procurement process, thereby enhancing the authority’s operational efficiency and service delivery. He emphasised that the committee is committed to upholding compliance with national procurement guidelines and maintaining the integrity of the process.

Kainantu Gold Mine in Papua New Guinea has reported outstanding production results for the third quarter of 2024, achieving a record output of 44,304 ounces of gold equivalent (AuEq), which includes 41,702 ounces of gold, 1,278,492 pounds of copper, and 37,613 ounces of silver, according to K92 Mining Inc. John Lewins, K92 Chief Executive Officer and Director, stated: “As we guided to at the beginning of the year, 2H was expected to be the strongest, and it has certainly delivered thus far, with record ounces produced and sold, and record recoveries while benefiting from record gold prices in Q3. “Importantly, the results have well positioned the Company to meet its 2024 Operational Guidance, while also delivering a notable strengthening to the Company’s financial position during the Stage 3 Expansion construction, which is very encouraging." The mine's sales figures were equally impressive, totaling 45,248 ounces of gold, 1,615,185 pounds of copper, and 46,062 ounces of silver. With over 80 percent of its annual gold equivalent production guidance already met in the first nine months, the company is on track to achieve its 2024 target of 120,000 to 140,000 ounces AuEq. Lewins said: "In less than 9 months from now, the new Stage 3 Expansion Standalone Plant is scheduled to commence commissioning, marking a major milestone for K92 that has taken multiple years to reach, and it effectively represents the beginning of the Company becoming a Tier 1 Mid-Tier Producer. “We are also excited to host an analyst and investor tour later this month, highlighting our progress across multiple areas, including current operations, the Stage 3 and 4 Expansions and exploration, while also showcasing the advantages of operating in the mining friendly jurisdiction of Papua New Guinea.” During the quarter, the processing plant handled 104,992 tonnes of material, with a gold equivalent head grade averaging 13.8 grams per tonne, the highest since Q4 2020. This increase was driven by the mining of higher-grade stopes that had initially been scheduled for the previous quarter, the company said. The mine's throughput was intentionally reduced to optimize recoveries at this elevated feed grade, K92 said. Notably, metallurgical recoveries also reached new heights, with gold averaging 95.3% and copper at 95.1% for the quarter, surpassing recovery expectations. The mining operations saw substantial activity, with 112,333 tonnes of ore extracted across nine levels, including significant areas at Kora and Judd, Lewins noted. The quarter also marked the completion of a 5-metre diameter raise bore for interim ventilation improvements, alongside the successful execution of several smaller raises. K92 anticipates a significant increase in development rates as it completes multiple infrastructure projects and enhances its mining capabilities with the introduction of additional equipment and initiatives aimed at boosting productivity. PNG Mineral Resources Authority (MRA) Managing Director Mr Jerry Garry, while giving an update on the mining sector to PNG Business News, commented on K92’s production. He said: “On track to meet the annual production forecast of 120,000 to 140,000 ounces gold equivalent." Garry said this will provide much needed financing for the construction of its Stage 3 Expansion, which will produce about 450,000 ounces of gold equivalent annum, comparable to Porgera miners’ annual production of 500,000 ounces per annum. “This is indeed another sterling performance from K92 mine, and we highly commend their entire team," he added.

ExxonMobil Senior Vice President of Global LNG, Mr. Peter Clarke, recently shared his insights on the success of Papua New Guinea’s liquefied natural gas industry and the bright opportunities ahead as a keynote speaker at Kumul Petroleum Holding Limited’s Petroleum and Energy Conference held in Port Moresby. “Papua New Guinea is truly well-positioned for the future -- one where LNG will have an even larger presence in the global energy mix,” said Mr. Clarke. “With proximity to market and high-quality resources, PNG can continue supporting regional demand for decades to come, with Asia Pacific countries set to be core natural gas customers, and in the process help these countries meet their energy security and emissions reduction goals,” he added. Through the PNG LNG Project, Papua New Guinea has demonstrated the ability to deliver reliable supply to customers, Clarke said. “When the first shipment of Papua New Guinea’s LNG set sail on the ‘Spirit of Hela’ to Japan in 2014, and PNG entered an esteemed club of LNG exporting nations, no one could have foretold what the future would bring. But with the benefit of 10 years of hindsight, I can confidently say that through the strength of our partnerships, we have exceeded all expectations -- and together, we have firmly established Papua New Guinea’s global reputation for excellence in the LNG industry,” Clarke said. “In just its first decade of operations, the PNG LNG Project has generated tens of thousands of jobs and strengthened PNG’s economy. It has engaged 155 local businesses, including 10 LANCOs in the production phase, and invested 6.8 billion kina in PNG with these businesses,” Clarke said. “And along the way, we have helped to deliver more than 27 billion kina back to the State of Papua New Guinea and its people.” ExxonMobil and its co-venturers’ investments in the country continue today, with multiple works currently underway to bring new volumes online and further strengthen PNG LNG’s production levels, Clarke said. “We are also pleased to announce that the P’nyang LNG co-venturers are currently progressing its concept evaluation phase. This phase is critical to ensure that the design to develop this proven 4.6 TCF resource is as capitally efficient as possible which is particularly important given P’nyang’s remote location,” he added. “Thanks to our close partnerships with the national and provincial and governments, our co-venturers including Mineral Resource Development Company and Kumul Petroleum Holdings Limited, TotalEnergies, Santos and JX Nippon, our LANCOs, local communities and landowner leaders and other business partners -- we are incredibly excited for LNG’s next decade and beyond in Papua New Guinea,” he added. “Together, we have built a resilient, successful and globally respected LNG industry in PNG.”

The government has reiterated its ambition to achieve carbon neutrality by 2050, with an interim target of a 50-percent reduction by 2030, at the recent Petroleum and Energy Conference 2024. Recent reports indicate progress, particularly in the agriculture, forestry, and other land use sectors, which have successfully met initial CO2 reduction targets. Papua New Guinea (PNG) Climate Change Development Authority (CCDA) Acting Managing Director Debra Sungi highlighted the collaborative efforts between the agency, the PNG Forest Authority, and National Energy Authority to advance these objectives. Sungi said: “In our recent bi-annual update report, which we've submitted off to the United Nations Framework Convention on Climate Change, we have reached our target under the agriculture, forestry, and other land use, which is of 10,000 gigagrams of CO2 equivalent with zero debt in our recent findings. “That is a positive step that the government have actually taken together with you all in terms of ensuring that we work together in a more sustainable way. “Those targets are very specific for our agriculture, forestry, and other land use. And that is from our enhanced NDC, which was done back in 2020. We are in 2024, almost halfway through 2030. “It's a 10-year target. It is a positive milestones which we have achieved together,” she added Speaking at PEC24, Sungi, emphasized the urgent need for PNG to transition toward greener practices in the face of mounting climate challenges. Her remarks centered on leveraging nature-based solutions to combat climate change, while also promoting sustainable development. Sungi highlighted the importance of the country’s forests, as reiterated by PNG Prime Minister Hon. James Marape. "As we engage in international forums, we must fully utilize our forest resources," she stated, noting the increasing frequency of climate-related disasters over the past decade, which have disrupted traditional agricultural practices and altered weather patterns. Despite contributing a mere 0.001% to global emissions, she argued that PNG cannot afford to ignore the impacts of climate change. "If we don't take action now, we risk becoming one of the highest emitters in the future," she cautioned. Sungi also addressed the challenges of financing climate initiatives, noting the delays often associated with accessing international funds like the Green Climate Fund. "We need to mobilize resources effectively to respond to the immediate impacts of climate change," she urged, noting the importance of public-private partnerships. The CCDA executive detailed specific goals for transitioning from fossil fuels, particularly diesel-powered plants, to renewable energy sources by 2030. She said the National Energy Rollout Plan outlines potential investments in cleaner energy solutions across identified provinces. Moreover, Sungi announced recent amendments to the Climate Change Management Act, which will enhance governance around carbon markets, enabling better collaboration between the government, local communities, and the private sector. This regulatory framework aims to streamline efforts in forestry management and carbon trading. “I am pleased to say that even after the amendments of the Climate Change Management Act in 2023, we have made some few amendments to allow us as an authority to now manage and govern the space around carbon markets. And we have the regulation that maybe in a couple of days we will have a statement out that we have some endorsement. “I would like to acknowledge our good Prime Minister in driving this agenda going forward together with our ministers,” she said. “It a legislation that has been missing for a very long time. And having that around the forestry sector governs our work in terms of working together not only with our local communities, our landowners, but also with the private sectors around a different market approach, which we have identified another carbon market regulation.” Sungi called for collective action, noting that achieving PNG's climate goals requires partnership across all sectors. "We must ensure that our development is sustainable and inclusive," she stated.

Goilala District is aiming to secure an export license to tap into international coffee markets, according to Chairman and Goilala MP Hon. Casmiro Aia. “We have established contacts with Dubai and sent our first shipment of coffee through Niugini Spice and Coffee Exports, a subsidiary of the Agmark group. Now, we look forward to owning a coffee export license,” Aia said. The MP outlined his vision for the district during an exclusive interview with PNG Business News after receiving a processing certificate for a mini dry huller from the Coffee Industry Corporation (CIC). The Goilala District Development Authority (DDA) has committed K900,000 to coffee rehabilitation projects, allocating K300,000 for each of the district’s three Local-Level Governments (LLGs): Tapini, Woitape, and Guari. This investment aims to support the revival of coffee and other cash crops in the region. “Our district is vast, with a population that is spread across a wide area,” Aia noted, as under his leadership, the GDDA committed to supporting agriculture initiatives and bringing economic benefits to the district. Agriculture, particularly coffee production, is considered a key driver of economic development in Papua New Guinea. The recent presentation of the processing certificate, held on September 6 in Port Moresby, is expected to empower people in Goilala by providing them with a sustainable source of income. “The beauty of coffee and other agricultural activities is that they directly put money into people’s pockets. Other infrastructure projects are important, but what matters most is economic empowerment for individuals,” Aia said. Goilala is also preparing agricultural projects on potato, bulb onion, and honey, pending available funding. The district has been granted a license to mill and process coffee from parchment to green bean. Ensuring quality control is a key part of this process, which includes picking, washing, drying, milling, and polishing the beans before they are packaged in jute bags, the CIC noted. “We currently have one huller machine in use for Woitape LLG. We’ve requested two more machines for Guari and Tapini LLGs,” Aia added. “Our next goal is to purchase a polisher machine to further improve coffee quality.” The project also provides training and equipment such as pulping machines, coffee bags, pruning tools, nursery tools, and drying equipment, as support for coffee farmers. CIC representative Jacqueline Ruguna reaffirmed the corporation’s commitment to supporting coffee production in Goilala, “The management and staff are dedicated to ensuring the district's coffee reaches its full potential through ongoing collaboration with the GDDA and cooperative farmers,” she told PNG BN.

The Bank of Papua New Guinea (BPNG) Governor Elizabeth Genia addressed recent significant legislative changes to the Central Banking Act during the recent September 2024 Monetary Policy Statement presentation at the Royal Papua Yacht Club. The amendments, passed by Parliament in September, pave the way for the establishment of a new Monetary Policy Committee (MPC) aimed at enhancing the independence and transparency of monetary policy in PNG. “This is the last Monetary Policy Statement from the Bank of Papua New Guinea under the current governance structure,” Governor Genia stated. “The recently passed amendments include a provision for the establishment of a new Monetary Policy Committee, comprising myself as Governor, our Deputy Governor, and three appointees who are not members of the Bank of Papua New Guinea Board.” The new committee’s formation marks a critical step in strengthening the independence of monetary policy decision-making, Genia said. With only the Governor and Deputy Governor sitting on both the MPC and the Bank’s Board, the committee’s membership will be determined by the Head of State, based on advice from the National Executive Committee and the Treasurer. The appointment of the three additional committee members is expected to progress smoothly, with the aim of having the new MPC operational as soon as practicable. “This change will facilitate more robust discussions and decision-making processes in our monetary policy framework,” she noted. An essential aspect of the legislative amendments mandates the MPC to publish a statement following each meeting, detailing individual votes and the rationale behind decisions. “This will add transparency to the process of setting monetary policy and provide greater insight into the considerations behind our decisions,” Governor Genia explained. Moreover, the recent changes clarify the objectives of the BPNG, placing price stability as the primary and overarching goal.  “Our secondary objectives are to ensure financial stability; promote sustainable medium term economic growth, especially in the non-mineral and non-petroleum sector; and to promote the development of Papua New Guinea’s financial system,” Governor Genia said.

The Papua New Guinea Tourism Promotion Authority (PNGTPA) has officially partnered with the Jimi District Development Authority (JDDA) in Jiwaka Province to enhance local tourism and promote local culture on a global stage. This was formalised through a Memorandum of Understanding (MOU) signed on October 11 at the Ela Beach Hotel in Port Moresby. PNGTPA Chief Executive Officer Eric Mossman Uvovo described the MOU signing as "small but very significant." “What we can do is drive tourism at the district level, with the potential for cultural tourism, bird watching, festivals, and guided tours in the area, which is a global based tourism attraction,” he said. Uvovo acknowledged some challenges, including financing and law and order issues. He urged for a proactive approach, saying: “Let’s not wait for law and let’s take the tourism agenda head-on.” Hon. Wake Goi, the new Minister for Mining and Member for Jimi Open electorate, also stressed fostering partnerships for tourism promotion. He expressed a desire to explore how the mining sector could support local tourism, stating: “Let’s drive this tourism agenda.” Mr Gabby Aipanga, Chairman of the Jimi Marita Festival, outlined ongoing tourism promotion efforts, particularly around the Annual Jimi Marita Festival, which showcases the cultural, health, and economic significance of the Marita crop. The festival has been registered with the National Cultural Commission and has been in collaboration with the PNGTPA since 2022. The Jimi District, one of three districts in Jiwaka Province, is characterized by its mountainous terrain and lush rainforests. According to the 2011 census, the district has a population of approximately 70,000 to 80,000 residents. The festivals as discussed can also generate income through local tourists within the area, resulting in a boost of economic activity, Mr Aipanga said. The festival and other tourism initiatives aim to develop Jimi as a tourist destination through projects such as the Memints Track Development, a historical 32-kilometer track from Banz Township, ideal for bird watching and sightseeing; and the Mini Museum, a collection showcasing local handicrafts, art, and traditional tools. This partnership positions Jimi District as a vibrant cultural and tourism hub in PNG, with the potential to attract both domestic and international visitors. Attendees included Kennewton Kennedy TPA Executive Manager for Partnership and Product Development; Mathew Pyakali, CEO of JDDA; PNGTPA management representatives and JDDA officers.

By: Niki Alsford Niki Alsford is Professor of Anthropology and Human Geography, and Director for the Institutes for the Study of the Asia Pacific (ISAP) at the University of Central Lancashire. He is Research Associate at SOAS, the University of London and Associate Member of the Faculty of Asian and Middle Eastern Studies at the University of Oxford. In August 2024, I had the privilege of attending the Mount Hagen Cultural Show, one of Papua New Guinea’s most vibrant and significant cultural events. As I stood among the performers adorned in feathers, paint, and traditional attire, I couldn’t help but marvel at the richness of the island’s cultural heritage. The festival, or Singsing in Tok Pisin (a creole language spoken throughout the country), is a testament to the country’s cultural diversity, where over 800 languages are spoken, and each community has its unique traditions and customs. This diversity, combined with the stunning biodiversity, offers a tourism potential that is both unique and underexplored. Papua New Guinea (PNG) is a country that, by all accounts, should be a prime destination for global travellers. It boasts some of the world’s most diverse ecosystems, pristine beaches, and unparalleled diving opportunities, especially in regions like Milne Bay and Kimbe Bay. The rugged landscapes of the highlands are home to an array of bird species, including the rare and beautiful birds of paradise. Yet, despite these attractions, PNG remains one of the least visited countries in the world, with tourism numbers lagging many of its Pacific neighbours. The Potential and Perils of Tourism The potential for tourism to bring economic benefits to PNG is undeniable. In many developing countries, tourism has acted as a catalyst for economic growth, creating jobs, fostering small businesses, and bringing in much-needed foreign exchange. In PNG, where the economy largely depends on extractive industries like mining and oil, tourism could provide a more sustainable and diversified income stream. However, as with any developing nation, the influx of tourists comes with its own set of challenges. PNG operates on a dual economic system: a formal monetary economy that the government and larger businesses operate within, and a subsistence economy where the majority of the population engages in farming and bartering to meet their daily needs. The introduction of large-scale tourism could disrupt this delicate balance, particularly in the highlands, where traditional ways of life have been preserved to a greater extent than in the more urbanised coastal regions like Port Moresby and Lae. In the highlands, the economy is not driven by cash but by subsistence farming and the exchange of goods and services within the community. This system has allowed highlanders to live sustainably for generations. Introducing a tourism-driven cash economy could lead to social stratification, with those benefiting from tourism becoming wealthier while others are left behind. Moreover, the allure of easy money from tourists could lead to the erosion of traditional values and practices, which are integral to the social fabric of highland communities. Cultural Sensitivity and Responsible Tourism One of the most critical issues in developing tourism in PNG is ensuring that it does not lead to cultural exploitation or degradation. The highlands, in particular, do not need to be “developed” in the global sense of the word. Development here should not mean the imposition of foreign values or economic systems, but rather the empowerment of local communities to share their culture on their terms. Tourism in PNG should be approached with a model of cultural sensitivity and responsibility. This means developing tourism initiatives that are community-led and that prioritise the preservation of cultural heritage over profit. For instance, cultural festivals like the Hagen show should be supported in a way that ensures they remain authentic expressions of local traditions rather than becoming commercialised spectacles for foreign visitors. One approach could be to focus on low-impact, high-value tourism. This model would limit the number of tourists but increase the revenue generated per visitor. By targeting niche markets, such as eco-tourism, bird-watching, and cultural tourism, PNG can attract travellers who are genuinely interested in learning about and respecting local cultures and ecosystems. These tourists are more likely to spend money on local services and products, ensuring that the benefits of tourism are felt at the community level. The Importance of Infrastructure and Safety A significant barrier to increasing tourism in PNG is the lack of infrastructure. Many of the country’s most beautiful and culturally rich areas are difficult to access, with limited transportation and accommodation options. Investing in infrastructure is essential to make these areas more accessible to tourists. However, this must be done in a way that is sensitive to the environment and the needs of local communities. Safety is another concern that has deterred many potential tourists from visiting PNG. The country has a reputation for lawlessness, particularly in urban areas. While this perception is not entirely accurate, it does highlight the need for improving security, particularly in tourist areas. Collaborations between the government, local communities, and international partners could help address these issues, making PNG a more attractive destination for international visitors. Balancing Development and Preservation Ultimately, the challenge for PNG is to find a balance between leveraging tourism for economic development and preserving the country’s unique cultural and natural heritage. The highlands, in particular, represent a region where this balance is especially crucial. Development should not come at the cost of cultural erosion or environmental degradation. Instead, it should focus on empowering local communities to manage tourism in a way that benefits them economically while preserving their cultural identity. To achieve this, the government, NGOs, and the private sector must work together to develop tourism policies that prioritise sustainability and cultural sensitivity. This includes providing training for local communities in tourism management, developing infrastructure that benefits both tourists and locals, and ensuring that tourism revenues are reinvested into the community. As such, Papua New Guinea stands at a crossroads. The potential for tourism to bring economic benefits to the country is significant, but it must be managed carefully to avoid the pitfalls that have befallen other developing nations. By focusing on responsible, culturally sensitive tourism that prioritises the needs and desires of local communities, PNG can develop a tourism industry that not only brings economic benefits but also helps to preserve its rich cultural and natural heritage for future generations. Tourism without tourists might seem like a paradox, but in the context of PNG, it represents a model of development that respects and preserves the very things that make the country unique. By embracing this model, PNG can offer travellers an experience that is not just about visiting a new place, but about understanding and appreciating a way of life that has endured for centuries.

Ok Tedi Mining Limited (OTML) has donated K550,000 to the University of Papua New Guinea’s (UPNG) Earth Sciences Division & Centre for Disaster Risk Reduction, upgrading the division’s Computer Laboratory for students and teaching staff. The funds cover the purchase and installation of 28 desktops, seven laptops, and one uninterruptible power supply (UPS) device. Currently there are only six desktops that caters to the division’s 26 final-year students, 21 third-year students, and 20 second-year students. Manager Mine Technical Services, James Bu, Manager Production Services, James Waisime, and Manager Corporate Affairs, Dexter Wagambie, attended the University’s Open Day on Friday October 11th to announce the donation. Mr Wagambie said, “This donation complements OTML’s vision to create a sustainable future for our people, by positively impacting tertiary level students and mould them to be the workforce that we envision them to be in the future.” OTML’s presence at the Open Day was also an opportunity for the three Manager’s to inspire students eager to learn more about the mine’s operations, geological activities, and training programs. The impact of OTML’s Graduate Development Scheme on the development of graduates and the benefits that the mine operation gains from these professionals over the years was highlighted. “The GDS Program is all about building leaders in the industry. The current Managing Director and Chief Executive Officer, Kedi Ilimbit, including Mr Bu, Mr Waisime, myself, and many other leaders in OTML are products of the GDS program,” Mr Wagambie said. Head of the Earth Science Division Associate Professor Joseph Espi said, “Ok Tedi is an integral part of our vision to be the best because Ok Tedi is a nationally owned company and the largest open-pit mine in PNG right now with a 98% national workforce and national CEO. These are reasons enough to inspire our students excel in their chosen fields of study.” OTML is committed to maintaining an industry-institution relationship with key tertiary institutions, such as UPNG, to ensure they produce quality graduates that are ‘industry ready’.

Resource development remains central to Papua New Guinea's (PNG) economic growth, and as the global shift toward greener energy continues, liquefied natural gas (LNG) is seen as a key transition fuel. During a media briefing on September 30th, Kumul Petroleum Holdings Limited Managing Director Wapu Sonk emphasized that PNG is ready to welcome investors in its energy and petroleum sectors. “While PNG transitions to more sustainable energy production, we aim to responsibly market our LNG globally,” said Sonk. He noted that LNG will continue to play a pivotal role in both domestic and international markets. The upcoming Petroleum and Energy Conference, scheduled for October 17-18 at the Hilton Hotel in Port Moresby, will serve as a critical forum for discussions on policy updates and new projects. Organized by Kumul Petroleum Holdings, the event will be the only conference dedicated to the petroleum and energy sectors in PNG. Policy Discussions and Fiscal Regime Updates Sonk stressed the need for changes in PNG's fiscal regime to maximize the benefits of resource extraction. “This conference is an opportunity to discuss existing and new policies that will shape the future of the sector,” Sonk noted. International speakers, including economist Dr. Fereidun Fesharaki and fiscal regime expert Daniel Johnston, are expected to attend. Johnston will provide insights on production-sharing regimes and offer comparisons with countries like Indonesia and Qatar to help PNG optimize its resource management laws. Sonk also expressed excitement about the insights PNG will gain from the University of Victoria’s presentation, which will assess the current state of the PNG LNG project a decade after its inception. “The government has been discussing fiscal regime changes by 2025. Where do we stand on that?” Sonk asked. Renewable Energy and Transitioning to Green Solutions The conference will also address PNG’s transition to renewable energy, as Sonk emphasized the changing global landscape, urging stakeholders to harness PNG’s vast energy resources responsibly. “Governments worldwide are adapting their policies, and PNG must do the same to remain competitive and ensure long-term sustainability.” PNG’s renewable energy potential is immense, particularly in hydroelectric, geothermal, and offshore wind energy, and Sonk pointed to the country's significant hydro capacity, estimated at 40-50 gigawatts, and offshore wind potential of up to 300 gigawatts. Collaboration and Energy Access Ronald Maketa, Managing Director of the National Energy Authority (NEA), added: “Despite being an exporter for over 20 years, PNG has yet to fully realize the economic benefits of its energy sector.” Maketa argued that PNG’s energy rates should be lower than those of neighboring countries and that improved energy access is key to driving economic growth. “Energy powers our economy. It is essential for job creation, industry development, and national prosperity,” Maketa noted. He also pointed to the Medium-Term Development Plan (MTDP), which prioritizes energy alongside agriculture and industrialization, as evidence of the government's commitment to advancing the sector. “We need cheaper, reliable, and renewable energy to support our development aspirations,” he added. Investment Opportunities and Industry Growth Petroleum and Energy Minister Hon. Thomas Opa highlighted the significant opportunities for investment in PNG’s energy sector, stating that the sector is a major driver of economic growth. "This industry creates jobs, generates state revenue, and funds infrastructure development across the country,” said Opa. He confirmed that several exploration licenses are currently being processed, including a significant offshore drilling collaboration between TotalEnergies and Petronas. “This project will be a first for PNG in many ways,” he remarked, adding that more details on exploration licenses and potential investors would be provided during the conference. As PNG continues to attract interest from major multinational corporations, Opa emphasized that sustainability remains a key focus. Companies like ExxonMobil and TotalEnergies are actively working to reduce their carbon footprints in PNG, aligning with global efforts to minimize environmental impacts. The 2024 PNG Petroleum and Energy Conference is set to attract national and international attention, providing a platform for policy discussions, investment opportunities, and networking. The event will also offer opportunities for brand promotion and enable businesses to showcase their projects to industry leaders and potential investors.