This year's Petroleum and Energy Conference (PEC) attracted an impressive 580 delegates from around the world to Papua New Guinea (PNG), which is the highest attendance to date.
The Managing Director for Kumul Petroleum Holdings Limited, Mr. Wapu Sonk, expressed optimism for future events, stating: "I look forward to a better and bigger event next year, with more exciting projects."
Mr Sonk highlighted the importance of the conference as a platform for networking, idea sharing, and collaboration aimed at enhancing the sustainability and success of the oil, gas, and energy industry in the country.
The conference featured a comprehensive range of discussions, covering topics from green energy to regulatory frameworks, marking a significant step in the evolution of the energy sector.
Mr Sonk reflected on the event's origins in 2016, noting its focus on petroleum and energy discussions distinct from mineral topics.
He pointed out that this focused approach led to meaningful changes, including the establishment of the National Energy Authority (NEA) and the deregulation of PNG Power, allowing for more competitive practices in the industry.
"This event started in 2016, and we had a break in between because of COVID, and this is the sixth edition of the conference. I have to say that I'm proud of the conference. It has achieved a lot, basically."
"The progress we have made has transformed the energy landscape," Mr Sonk said, noting the importance of building trust between the government and investors and the need for balanced relationships to ensure mutual benefits for both the country and the industry.
"Without your support, we would not have had a successful two-day event," he said, thanking sponsors for their vital contributions.
Mr Sonk acknowledged the presence of Prime Minister James Marape and various ministers, including Minister for Energy Thomas Opa.
Minister Opa expressed appreciation on behalf of the Marape-Rosso government and the Department of Energy for the efforts of Kumul Petroleum Holdings Limited (KPHL) in organizing the event, highlighting its role as a vital platform for industry collaboration.
MP Opa, who joined MD Sonk and PM Marape on stage, reinforced the government's dedication to licensing new energy projects.
He said: "In the next 12 months, we would like to come back and say we have covered another 20 or so districts in the MPP through licensing."
Sharing similar sentiments, Prime Minister Marape shared ambitious plans for the energy sector, which aims to expand access to electricity in rural areas by 2030.
"We want to reach out to about 70% of public unions in the rural areas," he said, as the conference concluded with a strong message of collaboration and investment potential in PNG's energy sector, reflecting the government's ongoing commitment to it.
