Prime Minister James Marape stated that the State Negotiating Team is now working on a gas agreement for P'nyang. Following the State Negotiating Team's recent travel to Houston, Texas, Ivijitari Member Richard Masere asked Marape to offer an update on the Papua and P'nyang gas projects. Masere inquired whether the Prime Minister could offer an upda...

Twinza Oil Limited’s Pasca A Gas Agreement is yet to be finalized as per their media release last August. Honorable Keregna Kua, Minister for Petroleum, announced in Parliament a seven-day period for the State Negotiating Team (SNT) and Twinza Oil Limited to meet to finalise drafting of the Pasca A Gas Agreement. Unfortunately, the deadline expired on the...

Photo credit: InDaily Santos Ltd has submitted an authorization application to the Independent Consumer and Competition Commission (ICCC) seeking clearance for its proposed merger with Oil Search Ltd. Santos and Oil Search have agreed to a binding merger implementation deal, according to ICCC Commissioner and Chief Executive Officer Paulus Ain, unde...

According to a projection, total earnings from the PNG LNG project would reach US$4.5 billion (K15.4 billion) in the fiscal year 2021. According to estimates recently released by JMP Securities, PNG-based equity and fixed interest markets broker/dealer, Kumul Petroleum Holdings Ltd (KPHL) will earn between US$750 million and US$775 million (roughly K2....

Peter Fredricson, Acting CEO, said “Oil Search delivered another strong quarter of production, which was up 5% on the previous quarter, demonstrating the resilience of our operations and sustained commitment to the safety of our people and maintaining safe and reliable production. Operating revenues were up 12%, supported by strong growth in oil prices.” ...

Santos Ltd is a fresh entrance into the country's petroleum sector, and Prime Minister James Marape is looking forward to assisting it. In Port Moresby, he recently met with Santos managing director and chief executive officer Kevin Gallagher. Santos' merger with Oil Search Ltd was explained to Marape, as well as the company's broad strategic goals,...

Photo credit: Richard Dellman - EMTV Prime Minister Hon. James Marape has reassured Papua New Guinea of a better deal from the P’nyang Gas Project in Western than previous projects. He gave this reassurance in Parliament (Tuesday Oct 12) when answering a series of questions from North Fly MP Hon.James Donald in relation to P’nyang, as well as execut...

Total E and P managing director Jean-Marc Noiray stated the Papua LNG project will begin in 2027. After three years of delays, he said the business was mobilizing its project team. “Our project of Papua LNG, after three years of delay, we are again, mobilising our project team, targeting front end engineering and design (Feed) entry through to 2022,...

The Papua New Guinea Chamber of Mines and Petroleum has applauded the signing of Heads of Agreements for the P’nyang Gas project. Chamber President, Anthony Smaré, stated “Our country desperately needs new gas and mining projects to bring in foreign exchange, create thousands of jobs, create significant business opportunities for PNG SMEs that desperat...

Papua New Guinea Prime Minister  James Marape, accompanied by Petroleum Minister Kerenga Kua, Justice Minister Bryan Kramer, Gulf Governor Chris Haiveta and Hela Governor Philip Undialu, today met with the ExxonMobil President for Upstream Mr Liam Mallon in Houston and the senior executive team where the State executed Heads of Agreement (HOA) on P’nyang ...

The talks between ExxonMobil and the government on the P'nyang gas project have been hailed as "good" by Prime Minister James Marape. Last month, the two companies signed a letter of intent to commence project talks. “ExxonMobil will be resuscitating conversations on the P’nyang gas fields which is up north from the present PNG LNG. P’nyang will be ...

According to a market statement, Santos Ltd and Oil Search PNG Ltd have completed their merger through a merger implementation deed. Reciprocal confirmatory due diligence, which began on August 6, has been completed. Oil Search shareholders will get 0.6275 per cent new Santos shares for each Oil Search share held on the plan of arrangement's record ...

Photo Credit: Loop PNG According to Petroleum Minister Kerenga Kua, the proposed merger of Oil Search Limited by Santos must be in the best interests of the country. While Kua recognizes the significant contribution Oil Search Limited has made to the country, he believes that a merger will result in the company's identity being lost and subsumed und...

President of the Papua New Guinea Chamber of Mines and Petroleum, Anthony Smaré, has applauded the Marape-Basil government, Petroleum Minister Kerenga Kua, ExxonMobil PNG, and their joint venture partners for agreeing to reengage in negotiations on the P’nyang project in Western Province. Mr. Smaré said “In light of the extremely challenging economic c...

According to country manager Roppe Uyassi, Twinza Oil Ltd would not sign the non-disclosure agreement in the manner supplied by the government. He was reacting to Prime Minister James Marape's recent comment that he was dissatisfied and had "ran out of patience" with the way the business was handling the finalization of the Pasca A gas accord. Twinz...

Photo Credit: Kumul Petroleum - Minister for Petroleum, Hon. Kerenga Kua MP, officially announced the award of a fourth Petroleum Retention Licence (PRL) the Pandora License to the Managing Director of Kumul Petroleum, Mr Wapu Sonk on Friday, 03 September 2021. Kumul Petroleum Holdings Limited (Kumul Petroleum) welcomes the government’s decision to awa...