Photo Credit: Post Courier / Department Secretary David Manau
According to a department official, the petroleum and energy department is getting several requests from holders of petroleum prospecting licenses (PPLs) to prolong the term of their licenses.
It suggested, according to Department Secretary David Manau, that it was difficult for the enterprises to conduct business in the country at this time.
There are separate licenses for exploration, petroleum development, petroleum retention for found gas reserves that are considered sub-economic, pipeline, and petroleum processing facilities, Manau said during a media workshop in Port Moresby.
“There are four main licenses under the Oil and Gas Act.
“During the Covid-19 period, most of the license holders applied for an extension of time.
“It is an indication that there is difficulty in doing business currently in the petroleum industry.
“We have also had surrenders. Surrenders (indicate) that it is difficult to do business in PNG.”
He said there had been 100 PPLs throughout the years. “Now, 58 are currently under tenure.
“In terms of retention license, there are 11 active ones.
“Three were awarded in 2021,” he said.
“Even though during the Covid-19 period, there were seven PPL awarded.
“All other licenses remain the same.”
Reference: Mauludu, Shirley. The National (6 August 2021). “Requests for extensions”.
