At Parliament House recently, Kumul Petroleum Holdings presented the Government with a dividend cheque for K250 million Handing over the interim dividend payment to Treasurer, Ian Ling-Stuckey, and SOE Minister William Duma, Wapu Sonk, Managing Director of Kumul Petroleum Holdings said, “KPHL is fulfilling the commitment it made in its 2023 Annual Oper...

On the 6th of July, 2023, Petroleum & Energy Minister Hon. Kerenga Kua, officially signed the Memorandum of Approval for transfer; of a 2.58% equity share from the operator of the Papua LNG project TotalEnergies EP PNG (TEP PNG) to JX Nippon Oil & Gas Corporation. Witnessed by the joint venture partners of the Papua LNG project, , as well as St...

Earlier in May and in the first week of June, the Papua LNG Project team successfully updated local and international business houses in Papua New Guinea (PNG) the status of the Project, as well as crucial information regarding Upstream Project packages of interest. Two information sessions in the form of breakfast events, were held in partnership with...

Photo: Patrick Pouyanné, CEO TotalEnergies, and Toshiya Nakahara, CEO of JX Nippon (Credit: JX Nippon) JX Nippon oil and gas exploration has received approval to acquire a 2.58 percent stake in the Papua LNG project from TotalEnergies EP PNG Ltd. According to Paulus Ain, commissioner and CEO of the Independent Consumer and Competition Commission (IC...

The planned Fabrication Facility came one step closer today, when Kumul Petroleum Holdings signed a contract with China State Construction Engineering Corporation PNG Limited China to undertake Phase 1 of early works civil work. The contract was signed by Wapu Sonk, managing director of Kumul Petroleum Holdings, and Wang Ounan, general manager of the c...

Prime Minister Hon. James Marape has recently commended multinational oil and gas corporation, ExxonMobil, for continuing its exploration in Papua New Guinea over the last two years, which has revealed “some good finds”. The Prime Minister said the company has spent up to $300 million on exploration in the last two years. “From my discussions with E...

Photo: Patrick Pouyanné, CEO TotalEnergies, and Toshiya Nakahara, CEO of JX Nippon (Credit: JX Nippon) Japan, the largest importer of liquefied natural gas (LNG) from Papua New Guinea (PNG), has further strengthened its position in the country's LNG sector. Japanese oil and gas exploration company JX Nippon has acquired a 2.58% stake in the Papua LNG p...

Marking yet another milestone for the Papua LNG project, six (6) of the required petroleum license applications licenses were submitted to the Department of Petroleum and Energy (DPE) on May 30th, 2023. DPE Secretary Mr David Manau while addressing the key stakeholders present at the submission, stated that his department will continue the review and e...

The advantages of having a second Liquefied Natural Gas (LNG) project in a country like Papua New Guinea is important and strategic in that the people are attached to the land, and they want to feel they are part of the extraction of resources and wealth -- and they can only do that through the development of their customary land. The focus has shifted...

Santos refers to its announcement of 27 September 2022 regarding the binding conditional offer from Kumul Petroleum Holdings Limited (Kumul) to acquire a five per cent interest in PNG LNG for asset value of US$1.4 billion, including a proportionate share of PNG LNG project finance debt of approximately US$0.3 billion (the Offer). On 23 December 2022, Kumu...

Santos achieved a new production, revenue, and underlying profit record in the last financial year. According to Kevin Gallagher, Managing Director, and CEO, these results were driven by strong customer demand and higher commodity prices. During the recent annual general meeting, Gallagher emphasized that 2022 was the first full-year period after the merg...

Photo: 3D visualisation of the Pasca A carbonate reef. Credit: Twinza Oil Twinza is pleased to announce that it has completed two new major reservoir assessments for the Pasca A field: An updated independent assessment of the Pasca A hydrocarbon resources has confirmed a total resource increase of 35%, and An independent assessment validates th...

Photo: Petroleum Minister Kerenga Kua Petroleum Minister Kerenga Kua has recently stated that the Papua LNG project is critical in addressing some of the economic challenges that are currently faced in the country. He said about K75 billion will be generated over a 15 year period when the project is in progress. He added that the initial stages of the ...

Papua New Guinea (PNG) is poised to supply Taiwan with its liquefied natural gas (LNG) as the latter phases out nuclear power plants by the end of 2025. With Taiwan's demand for energy expected to increase during its transition to renewable power capacity, PNG is set to become a crucial supplier of LNG and raw materials, which will create job opportunitie...

Photo Credit: Papua LNG - Map showing 260 km of offshore pipeline and 60 km of onshore pipeline extending from Elk and Antelope fields to Caution Bay On March 07, 2023, in separate announcements, Santos, TotalEnergies, and Exxon announced the Papua LNG project had launched the first phase of a fully integrated front-end engineering and design (FEED) fo...

Santos recently announced the Papua LNG joint venture has launched fully-integrated front-end engineering and design (FEED) for the Papua LNG project in Papua New Guinea. Papua LNG is expected to have liquefaction capacity of up to six million tonnes of LNG per annum with first production expected by the end of 2027 or early 2028. Following pre-FEED...