Santos has improved facility reliability of its assets to more than 97 per cent this year with production seeing record days, weeks and months. This was announced recently by Sigurdur Jonsson, Santos Vice President for PNG Operations during the 2024 PNG Investment Week in Sydney. “In our efforts to optimise maintenance strategies, we thoroughly exam...

The Government of Papua New Guinea, has initialed a landmark Gas Agreement with Twinza Oil Ltd, the operator of the Pasca offshore gas project. This transformative agreement paves the way for the development of Papua New Guinea’s first offshore petroleum project, located off the coast of Gulf Province. It will be submitted to the National Executive Counci...

Santos has announced the successful completion of the Angore project in Hela Province, Papua New Guinea, further bolstering the country’s liquefied natural gas (LNG) production capacity. This milestone development, unveiled on November 19, marks a significant step forward for the PNG LNG venture, delivering up to 350 million standard cubic feet (mmscf)...

Santos CEO Mr. Kevin Gallagher recently called Papua New Guinea’s Liquefied Natural Gas (PNG LNG) project  a "world-class asset" that boasts a low-cost, low-emissions intensity profile. He told PNG Business News that the project continues to deliver reliable LNG supply to key markets in Asia, reinforcing its vital role in the global energy landscape. ...

Santos has completed its sale of a 2.6% interest in the Papua New Guinea Liquefied Natural Gas (PNG LNG) project to Kumul Petroleum Holdings Limited (KPHL). The transaction, first announced on 29 December 2023 and detailed on 1 February 2024, was completed on 4 November 2024 and is worth US$602 million in cash (2.43 billion kina). In addition, Kumul wi...

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 f...

On the sidelines of the 2024 Petroleum & Energy Conference today, Kumul Petroleum Holdings Limited Managing director, Wapu Sonk signed a Pre-Front-End Engineering & Development (FEED) contract for a Floating LNG (FLNG) facility in the Gulf of Papua, in PNG. Mr Sonk announced that this important contract had been awarded to Shanghai Wison Offsho...

Santos has announced the signing of a mid-term LNG supply contract with TotalEnergies Gas & Power Asia Private Limited (TotalEnergies). The contract entails the supply of 20 LNG cargoes, or up to approximately 0.5 million tonnes of LNG per annum, over a period of three years plus one quarter. The contract will commence in Q4 2025, with LNG being su...

Prime Minister Hon. James Marape announced that discussions on the Pasca A Gas Project, which aims to develop the Pasca A gas-condensate field located approximately 95km offshore from Gulf Province, are progressing well. The announcement followed a meeting between the Prime Minister, the State Negotiating Team (SNT), and representatives of Twinza, the ...

Santos has announced the signing of a mid-term LNG supply contract with Glencore Singapore Pte Ltd (Glencore). The contract involves supplying 19 LNG cargoes, or up to approximately 0.5 million tonnes of LNG per annum over a period of three years plus one quarter. The supply will come from Santos' global portfolio of world-class LNG assets on a deliver...

As part of its member engagement activities, staff from PNG Chamber of Resources and Energy (PNG CORE) recently took part in a stakeholder engagement, hosted by ExxonMobil PNG (EMPNG). This advocacy session, facilitated by EMPNG’s Government Affairs team, provided PNG CORE staff with an appreciation of work done by the PNG LNG Project operator, particu...

Prime Minister Hon. James Marape announced recently that the “transformational” PNG LNG Project has brought in K26.3 billion in economic benefits to Papua New Guinea since the export of the first gas in 2014. He made the announcement at the Hilton Hotel in Port Moresby while addressing a dinner commemorating the 10th anniversary of the PNG LNG Project. ...

Kumul Petroleum Holdings has awarded a contract to OilMin Holdings Limited to carry out seismic work in two petroleum retention licences where KPHL is the operator. General Manager, Fintan Lalor, signed the contract on behalf of OilMin. Kumul Petroleum managing director, Wapu Sonk, said,”This contract award is the next step in our management of the pet...

The staff of PNG Extractive Industries Transparency Initiative (PNGEITI) attended a one day workshop hosted by ExxonMobil’s Government Relations team. It was an information sharing session aimed to shed light on various aspects of the PNG LNG project, particularly its benefits that will have a positive and long lasting impact on the country. ExxonMo...

The Mineral Resources Development Company Limited (MRDC) and Twinza recently announced they have executed agreements for MRDC to acquire an up to 50% Participating Interest in Twinza’s Pasca A Project, and for both parties to cooperate in the acquisition and development of future oil and gas opportunities in Papua New Guinea. In a statement, MRDC, Twin...

Kumul Petroleum Holdings has organised more shipments of fuel, including vital Jet A1 to alleviate the current shortages experienced by the country. Kumul Petroleum managing director, Wapu Sonk, advised,” We are aware that current fuel importers are unable to meet the demand for fuel, particularly the Jet A1 used by the aviation industry, and once agai...