Latest News

TISA Bank Limited, a homegrown 100% Papua New Guinean financial institution, has emerged as a modern, values-driven alternative in the commercial banking sector after receiving its banking licence in 2024 — the year of the country’s 50th anniversary of independence. In an exclusive interview with PNG Business News, TISA Group Chief Executive Officer Mr Michael Koisen OBE ML reflected on the institution’s rapid evolution, outlining how the bank is combining digital innovation, financial inclusion and ethical banking to reshape access to finance across the country. He said 2025 represented a period of “transition and trust” as the group consolidated its operations following the approval of its banking licence in 2024. “In 2025, TISA Bank did not just operate — we evolved,” Mr Koisen said, describing the year as a turning point following the bank’s successful launch as a licensed commercial institution. Group CEO Mr Koisen remains confident that TISA Bank’s value-driven approach provides a strong foundation for long-term growth. “Our vision is to be the heartbeat of PNG’s economy — a bank that listens, innovates and grows alongside every citizen,” he said. “We don’t just see customers; we see the architects of our nation’s next 50 years.” “Since Papua New Guinea gained independence, TISA Bank has emerged as a homegrown financial institution proving that a bank deeply rooted in its people can still compete successfully with mainstream banks.” TISA in PNG is the largest savings and loan society and credit union in the Pacific. Born from a teachers’ savings movement that began more than five decades ago in 1972, the financial institution has evolved with ambitious plans to expand financial access, modernise banking services and retain national wealth within the country. “What began as a small savings group for teachers has evolved into a modern financial institution that seeks to balance commercial performance with national development goals,” Mr Koisen said. Mr Koisen clarified that while he serves as Group CEO of TISA Group, the organisation’s structure includes several subsidiaries beyond the bank. “TISA Group owns TISA Bank. We also own an insurance company that has recently been renamed TISA Insurance Group, with operations across Fiji, Tonga, Vanuatu, Solomon Islands and PNG. In addition, we have property investments, an equity portfolio and a security business.” He added: “We have consistently paid our members a 7% bonus for more than 15 years. We have never dropped below that percentage.” According to Mr Koisen, the bank’s philosophy is built around what it calls “values-based banking”, an approach reinforced by its membership in the Global Alliance for Banking on Values (GABV), a global network promoting financial institutions that prioritise community well-being and sustainable economic development. This model reflects the bank’s commitment to ensuring profits remain within PNG, supporting national development rather than being exported overseas. Strong Financial Performance in a Transitional Year TISA recorded strong financial performance in 2025. Total group assets reached K1.39 billion, representing a 22% increase and signalling growing public confidence in the institution. Even during this expansion phase, the bank maintained its commitment to members by distributing approximately K24.5 million in bonus interest, representing a 7% return to more than 80,000 members. For Mr Koisen, the distribution reflects the bank’s continued commitment to its cooperative heritage. “We are not just a financial institution; we are a partner in progress. We believe that empowering our people means unlocking prosperity for our nation,” he said. Digital Transformation as a Growth Engine A central pillar of TISA Bank’s growth strategy is its investment in modern digital infrastructure. Rather than adapting outdated legacy systems, the bank adopted a digital-first architecture built around the Oracle FLEXCUBE 14.7 core banking platform. This system allows real-time transaction processing, automated back-office operations and enhanced data security. The platform’s API-first architecture also enables integration with external systems, including government digital platforms and payroll systems such as ALESCO, which was successfully integrated in March 2025. The integration allows thousands of public servants to receive their salaries directly into TISA accounts, simplifying financial management for the workforce. The new digital platform has driven a triple-digit increase in “new-to-bank” accounts, largely due to the convenience of mobile and internet banking services. Pacific-First Innovation in Banking Technology Building on its digital transformation strategy, TISA Bank has introduced several innovations designed to increase accessibility for customers across the Pacific region. Among the most notable is voice-activated banking integrated with Siri technology, enabling customers to perform basic banking functions using voice commands. The initiative represents a regional first and is particularly significant in a country where literacy levels and digital familiarity vary widely. “We are the only bank in the South Pacific that allows you to talk to your bank using voice technology through your iPhone. You can tell the app to transfer money and it will complete the transaction for you,” Mr Koisen said. The bank has also introduced the Yumi Pei digital wallet, designed to support QR payments and instant transfers while reducing PNG’s heavy reliance on physical cash. In January 2026, the bank further expanded its digital offering with the launch of a vertical Visa debit card featuring modern security design and 3D Secure technology for safer online and international transactions. While technological innovation remains central to TISA’s strategy, financial inclusion continues to be the institution’s primary mission. Approximately 75% of PNG’s population remains outside the formal banking system, presenting both a national challenge and a major opportunity for financial institutions. To address this gap, TISA has introduced an agency banking model that shifts away from expensive brick-and-mortar infrastructure. Through partnerships with local trade stores and small businesses, the bank is establishing community-based agents capable of providing basic banking services such as deposits and withdrawals within rural villages. This model allows customers to access financial services without travelling long distances to urban centres. Complementing the agency network is biometric onboarding technology, which allows customers to open accounts using fingerprint or facial recognition verification. The system enables individuals with limited identification documents to register using community references from village magistrates or pastors. Supporting Small Businesses and the Real Economy Beyond retail banking, TISA Bank has also positioned itself as a key partner for Papua New Guinea’s small and medium enterprise sector. Recognising SMEs as the “heartbeat of the economy,” the bank became the naming rights sponsor of the PNG SME Business Breakfast, committing K300,000 to initiatives supporting entrepreneurship and local business growth. Through this initiative, the bank has supported credit guarantee programs that allow local businesses to secure financing when traditional lending options may be unavailable. TISA also maintains deep ties with public servants and educators — communities closely connected to the organisation’s origins. Expanding a Nationwide Banking Network Alongside digital innovation, TISA Bank is rapidly expanding its physical presence across PNG. As of early 2026, the bank operates five full commercial branches located in Port Moresby (Waigani), home to the flagship TISA Ruma headquarters; Lae in Morobe Province; Kokopo in East New Britain; Wewak in East Sepik; and Alotau in Milne Bay Province. The Alotau branch, opened on January 8, 2026, represents the newest addition and supports Milne Bay’s push toward city status. The bank continues to operate between 17 and 18 provincial service centres originally established under the Teachers Savings and Loan Society. These centres are progressively being upgraded into full commercial banking facilities. By 2027, the bank aims to expand to 20 full-service commercial branches across 18 provinces, with Mt Hagen, Wabag, Kavieng and Madang among the next targeted locations. To complement branch expansion, the bank has already deployed more than 50 agency banking partners, with plans to scale the network into the hundreds nationwide. Strengthening Risk Management and Cybersecurity Operating as a licensed commercial bank requires strict compliance with regulatory standards set by the country’s central bank, the Bank of Papua New Guinea. TISA has adopted a “secure-by-design” philosophy, integrating cybersecurity and compliance systems directly into its digital infrastructure. These include automated anti-money laundering and counter-terrorism financing monitoring systems that analyse transaction patterns and flag suspicious activity in real time. The bank’s cloud-based infrastructure, hosted through Oracle Cloud, provides enterprise-level security, including encrypted data storage, continuous threat monitoring and disaster recovery systems designed to maintain services even during infrastructure disruptions. Embedding ESG and Ethical Banking Principles Ethical banking is another defining feature of TISA’s corporate identity. As the first financial institution in the South Pacific to join the Global Alliance for Banking on Values, TISA integrates environmental, social and governance considerations into its decision-making processes. “For TISA, ESG is not a compliance checklist — it is our DNA,” Mr Koisen said. “We believe that banking can be a powerful force for good in overcoming social inequality and the climate emergency.” The bank prioritises lending to sectors that directly contribute to the real economy, including agriculture and small-scale manufacturing. Loans tailored for vanilla, cocoa and coffee farmers help support rural livelihoods while promoting sustainable land-use practices. The bank also avoids financing projects that disregard community land rights or create significant environmental harm. Investing in Local Talent As a fully PNG-owned institution, TISA places strong emphasis on developing local leadership. Mr Koisen said the bank is investing in staff training to build both technical expertise and a strong service culture. “We want bankers who not only understand transactions but who genuinely care about improving the lives of Papua New Guineans,” he added. The appointment of Luke Kaul as Acting Chief Executive Officer in February 2026, following his tenure as Group Chief Operating Officer since 2018, reflects the bank’s commitment to leadership continuity during its expansion phase. TISA is also investing heavily in workforce development, training staff at its Waigani headquarters to manage complex digital banking systems and developing specialised roles such as market risk managers and digital compliance officers. Partnerships with organisations such as CPA PNG support professional development among accounting and finance staff. Looking Ahead TISA Bank is now entering what leadership describes as a “scale and sophistication” phase. The bank aims to balance its portfolio by shifting toward a 70% corporate and SME lending mix and 30% retail banking, while expanding into trade finance and foreign exchange services. This strategy aligns with major economic developments expected in PNG, including large-scale resource projects such as Papua LNG and Pasca A, which could generate opportunities for local contractors and landowners. However, the bank must also navigate emerging challenges, including regulatory scrutiny linked to PNG’s placement on the Financial Action Task Force grey list in February 2026, as well as infrastructure and skills gaps in rural areas. Mr Koisen offered a word of advice. “Banking is not a 100-metre sprint. The journey for us is a marathon because we want to do things properly and do them well. There is a saying: ‘speed kills’. While speed may be important for some, it can also be dangerous. Assess properly, make decisions and build robust systems that will stand the test of time.” He told PNG Business News that the establishment of new banks in PNG would ultimately improve services across the country. “For many years we only had four banks and customer service was often below par. With new banks entering the market, competition will drive improvements,” he said. “One of my tasks is to give people services that are better than what they have been receiving for many years.” According to Mr Koisen and the bank’s media management division, TISA Bank’s social media platforms have also played an important role in customer engagement and feedback over the years, helping strengthen the bank’s services and ensure accessibility for all customers — including farmers in rural communities. He added that TISA Bank aims to position itself as an agile and customer-focused alternative. “We are different. We are values-based, we are Papua New Guinean-owned, and our purpose is to empower our people financially.” For TISA Bank, the mission is clear: to combine modern banking technology with community-focused values and ensure financial opportunity reaches every corner of Papua New Guinea.

K92 Mining Inc., operator of the Kainantu Gold Mine in Papua New Guinea’s Eastern Highlands Province, reported record production and financial results for 2025, driven by strong fourth-quarter performance and the commissioning of its Stage 3 expansion plant. In a statement released on March 2, the company said it produced 47,178 gold equivalent ounces (AuEq) in the fourth quarter of 2025, bringing total production for the year to a record 174,134 AuEq. K92 said the results coincided with the completion of commissioning for the new 1.2 million tonnes-per-annum Stage 3 expansion process plant at Kainantu. The facility is now ramping up operations and is expected to support further production growth. The company also reported significant economic contributions to Papua New Guinea during the year. These included PGK 423 million in corporate tax paid or accrued to the national government, PGK 50 million in royalties, and PGK 11 million in Mineral Resource Authority levies. Capital investment reached PGK 862 million, mainly related to advancing the Stage 3 expansion. K92 also spent PGK 74 million on exploration activities targeting near-mine and regional opportunities. The miner said it spent PGK 667 million with local suppliers and PGK 137 million on local joint venture contracts, aimed at increasing participation by domestic businesses and landowner groups. Community programmes received PGK 11 million in funding, supporting health, education and infrastructure projects. K92 Mining chief executive officer John Lewins said the year marked a significant milestone for the company and the Kainantu operation. “2025 was a transformational year for K92 and for the Kainantu Gold Mine. We delivered record annual production and financial results while successfully commissioning the new 1.2 million tonnes-per-annum Stage 3 Expansion Process Plant,” Lewins said. He said the expansion would increase processing capacity and support long-term growth for the operation. “The expansion represents a long-term investment in Papua New Guinea, supporting increased employment, stronger local business participation, and higher tax and royalty contributions,” Lewins added. “As production grows, so too will the economic benefits for the Government of Papua New Guinea, our landowner partners, local communities and business stakeholders.” K92 operates the Kainantu Gold Mine, one of Papua New Guinea’s producing underground gold mines, located in Eastern Highlands Province. The company has been expanding the operation in recent years as part of its strategy to increase output and extend the life of the mine.

A new board of directors for Petroleum Park Holdings Limited (PPHL), a subsidiary of the Konebada Petroleum Park Authority (KPPA), was sworn in on Monday. The ceremony was officiated by Magistrate Billy Pidu and witnessed by International Trade and Investment Minister Richard Maru, who is also responsible for KPPA. Sworn in as board members were Ambassador Joshua Kalinoe as chairman, along with David Manau, Martin Kombri, Vera Raga and Johnson Pundari. PPHL was established to oversee downstream petroleum and gas industry development and was registered in June 2016 under the Companies Act 1997. Maru said the KPPA and its subsidiary were created at a time when there was no domestic market obligation (DMO) requiring gas to be reserved for local use, leaving the authority and its land largely idle for years. He said the new board’s first task would be to determine the future direction of KPPA and the land under its control. “If we are to establish a petroleum park then where are we going to set it up? The Papua LNG project will have a 5 percent DMO, however the processing plant must be located in Gulf Province because the gas belongs to them,” Maru said. He noted that KPPA sits on prime land near a new wharf that could support manufacturing and export-processing industries, as well as import-substitution activities. Such developments, he said, could generate employment and tax revenue to support economic growth. Maru said the board is expected to submit a proposal to Cabinet within two weeks outlining its plans for the future of KPPA. “Either you go to sleep like everybody else or make a difference,” he told the board.

Papua New Guinea is mobilising its energy sector to support the country’s transition towards a low-carbon future as part of preparations for its third Nationally Determined Contribution (NDC 3.0) under the Paris Agreement. The United Nations Development Programme (UNDP) joined the Climate Change and Development Authority (CCDA) in convening a committee meeting with representatives from the energy sector, government agencies and development partners to discuss how the sector can contribute to the country’s climate commitments. Papua New Guinea is currently developing its NDC 3.0, which outlines the country’s targets and strategies for reducing greenhouse gas emissions and adapting to climate change in line with global efforts to limit average temperature rise to below 2°C. Officials said the energy sector will play a central role in advancing the country’s climate ambitions, particularly as global efforts intensify to reduce reliance on fossil fuels and shift towards cleaner, low-emission energy sources. During the meeting, participants exchanged ideas and explored practical solutions to help accelerate Papua New Guinea’s energy transition. Key proposals discussed included expanding the use of renewable energy sources, increasing electrification through off-grid and mini-grid solutions, and improving grid efficiency to reduce energy losses. The meeting was co-chaired by the National Energy Authority and William Laikain, general manager of the Climate Change and Development Authority. Outcomes from the discussions will help inform the finalisation of Papua New Guinea’s NDC 3.0 ahead of national endorsement and submission under the Paris Agreement framework. Officials said strengthening collaboration between government agencies, development partners and the private sector will be essential to advancing sustainable energy solutions and supporting the country’s broader climate goals.

The United Nations Development Programme (UNDP) is strengthening efforts to improve cocoa traceability on New Britain Island, aiming to support sustainable production and enhance market opportunities for Papua New Guinea’s cocoa farmers. The initiative comes as global consumers increasingly demand transparency in the environmental and ethical standards behind agricultural products. Strengthening traceability systems allows stakeholders to track the full production journey of cocoa beans, helping ensure they are produced sustainably and without contributing to deforestation. Through its Global Environment Facility-funded Food Systems, Land Use and Restoration (FOLUR) project, UNDP is working with government agencies and industry partners to advance a more transparent and resilient cocoa sector. A recent project mission to Kokopo brought together key stakeholders, including the Cocoa Board of Papua New Guinea, cocoa exporter Agmark, and the East New Britain Provincial Administration, to strengthen collaboration across the cocoa value chain. The discussions focused on practical measures to improve traceability and strengthen the sector’s sustainability credentials. Among the initiatives explored were the potential expansion of the Cocoa Management Information System, the digitisation of farm and value chain data, and improvements in post-harvest processing through the use of solar dryers and fermentaries. Partners also discussed strengthening pricing systems and building greater resilience among cocoa farmers. The project is implemented in partnership with the Conservation and Environment Protection Authority and financed by the Global Environment Facility. According to UNDP, strengthening traceability systems will help reduce deforestation risks, protect biodiversity and position Papua New Guinea’s cocoa industry to access premium international markets. Officials say a transparent cocoa supply chain can support stronger farmer livelihoods while safeguarding forests and natural ecosystems across the region.

Digitec PNG Financial Services Limited, trading as V-MONI; Omega Paymybills PNG Limited; and Lower OK Tedi Micro Bank Limited have officially received licence certificates from the Bank of Papua New Guinea (BPNG) on 27 February at Robert Haus in Port Moresby. Speaking at the licence presentation ceremony, BPNG Governor Elizabeth Genia described the development as positive news for Papua New Guineans. “The expansion of licensed payment services means greater convenience, faster transactions and improved access to digital financial services for our people, including those in rural and remote areas,” Governor Genia said. She added that microfinance institutions are equally vital in extending financial services to underserved communities, supporting small enterprises and promoting inclusive economic growth. Digitec PNG Financial Services Limited, trading as V-MONI, and Omega Paymybills PNG Limited have been licensed as Payment Service Providers (PSPs) under the National Payments Act 2023. The PSP licence enables institutions to allow customers to securely store money, make payments and transfer funds directly from their mobile phones without the need for a traditional bank account. This regulatory approval paves the way for greater participation in the digital economy, particularly for individuals with limited access to conventional banking services. Lower OK Tedi Micro Bank Limited has been licensed as a licensed financial institution under the Banks and Financial Institutions Act 2000 to operate as a micro bank. As a microfinance institution, it is authorised to take deposits and provide lending services, particularly to small businesses and individuals who lack access to traditional credit opportunities. The move is expected to support entrepreneurship and stimulate economic activity in underserved areas. Governor Genia reminded the newly licensed institutions that receiving a licence carries significant responsibility. She emphasised that a licence is not merely a certificate but an obligation to uphold strong oversight, effective governance and strict compliance with all regulatory requirements, including anti-money laundering and counter-terrorism financing (AML/CTF) obligations. “As licensed financial institutions, you form part of the first line of defence in protecting our financial system. Effective customer due diligence and a strong compliance culture must be embedded in your operations from day one. Weaknesses in this area expose your institution and the entire financial system to significant risks,” she said. The governor also assured the institutions of the central bank’s continued support. “Of course, this is only the start of a long collaboration. You have our full support in meeting these expectations,” she added. BPNG reaffirmed its commitment to maintaining close engagement with financial institutions to ensure that PNG’s payment and financial system remains safe, sound and trusted. The issuance of the licences reflects the central bank’s ongoing efforts to promote innovation while safeguarding financial stability and advancing financial inclusion across the country.

Loloata Island Resort recently hosted a beach clean-up that brought together 20 volunteers in a collective effort to remove debris and raise awareness about ocean pollution. The clean-up, held on 22 February 2026, formed part of the resort’s ongoing marine conservation initiatives and was led by Marine Conservation Officer D’Andre Yamuna. Participants worked along key sections of the island’s coastline, collecting litter that had washed ashore from surrounding waters. Teams focused their efforts on two areas of the island: the mangrove-fringed eastern shoreline, stretching from the Organic Garden to the Lima 8 Gate, and the sandy and rocky western shoreline, from West Beach to the Lima 5 Gate. Volunteers systematically combed the coastline, removing debris and documenting the types of waste found during the activity. By the end of the clean-up, the team had collected more than 2,300 individual items of waste, filling 18 bags of rubbish across approximately 4,700 square metres of shoreline. The activity also included a waste audit to better understand the types of debris reaching the island and to support future conservation planning. The findings showed that plastics made up the majority of the waste collected, accounting for about 92 percent of all debris. Soft plastics, such as food wrappers and plastic bags, were the most common items found, followed by hard plastics, including bottles and fragments. According to Yamuna, the clean-up highlights the wider challenge of marine pollution affecting island environments. “Many of the items we collected likely originated from nearby coastal communities and were transported here by tides and currents,” he explained. “Beach clean-ups like this are important because they not only remove waste from the environment but also help us understand the sources of pollution.” For Loloata, the clean-up reflects a growing commitment to environmental stewardship and sustainable tourism. The resort continues to support marine conservation through regular clean-ups, monitoring activities and awareness initiatives aimed at protecting the surrounding reef and coastal ecosystems. Anyone interested in learning how they can join or participate in these conservation initiatives is welcome to contact the team at marineconservation@loloata.com.

 From First Oil and Gas to LNG By Michael McWalter EDITOR’S NOTE: Michael McWalter, former Director, Petroleum Division and Adviser to the Government of Papua New Guinea, and erstwhile petroleum adviser to the governments of Ghana, Liberia, Cambodia, São Tomé, and South Sudan, recalls the foundations of petroleum resource development in Papua New Guinea, and continues his story of oil and gas exploration and production in independent Papua New Guinea. Michael McWalter is a certified petroleum geologist and technical specialist in upstream petroleum industry regulation, administration and institutional development. Introduction In my last article titled “Decades of Exploration to First Oil and Gas Production,” I told the story of the early days of petroleum exploration in the new nation of Papua New Guinea up to the days of first oil and gas production in the early 1990s. Gas was first produced and sold from the Hides gas field by BP and Oil Search in December 1991, and crude oil was first produced and sold from the Kutubu fields by Chevron and their joint venture partners in June 1992. The discovery of crude oil and natural gas at Iagifu and Hides respectively in 1986 and 1987 in significantly large accumulations worthy of commercial production sparked an exploration boom in subsequent years. Papua New Guinea became a vogue place for oilmen to be. In the 20 years or so after these discoveries, Port Moresby was home to oil and gas companies large and small that needed to be in this opening frontier of exploration; such is the herd mentality of oilmen. Together they spent a staggering 3 billion kina, which amounted to some US$2 billion at the exchange rates of those days, or about US$4.1 billion in today’s money. That effort involved the drilling of some 150 wells and the conduct of some 108 seismic surveys that eventually led to the discovery of moveable hydrocarbons in 61 wells and the location of 20 new petroleum accumulation fields, though many of these contained natural gas rather than oil. I now continue the story. However, it is an immense tale, so I shall just delve into it here and there to show where the petroleum industry has taken us at the time of our 50th anniversary of independence. And I apologise if at times my tale is anecdotal or lacking. Gobe and Moran Oil Fields Along the frontal trend of anticlines in the Papua New Guinea fold and thrust belt, wells drilled on the Gobe and Moran structures found additional pools of oil, in lesser quantities than the accumulations of the Kutubu fields, but still enough to warrant development. Almost every anticline was drilled along the frontal trend, even to the point of one supposed anticline turning out upon drilling to be a syncline rather than an anticline, and thus unable to trap any fluids in the subsurface. The Moran field north-west of Kutubu was estimated to hold about 113 million barrels of recoverable oil, whilst the Gobe field was estimated to contain about 83 million barrels of recoverable reserves. Both of these fields had structural complexities due to faults that compartmentalised the accumulation of oil within the reservoirs. Figure 1: A geological section through the Moran anticline showing Moran 1X and 2 wells penetrating the tightly folded and faulted structure   This isolation of separate pools of oil also led to some considerable rivalry between adjacent petroleum licensees, who sought to exert their prowess one over the other by naming the parts of the fields in their licences differently. Hence, we had supposed field names like South East Gobe, Gobe Main, Moran Central and North West Moran. With these fields awkwardly extending across licence boundaries, both co-ordinated development and unitised development arrangements had to be negotiated between the different licence joint venture groups. This was not always easy due to often intense corporate rivalries and differing economic and commercial positions. Figure 2: A tectonic map of New Guinea showing the Papuan Thrust and Fold Belt (PTFB) on the edge of the Australian tectonic plate. The blue star marks the location of the Hides gas field. After Cloos et al 2005.     The development of these fields ensued with different production arrangements. The Moran field depended on the use of the Kutubu Central Production Facility, to which flowlines from Moran to Kutubu were installed. Meantime, the Gobe field had a separate production facility installed (the Gobe Production Facility) and a short project-specific spur pipeline. Both of these fields used the Kutubu Export trunk oil pipeline and its integral offshore Kumul Marine Terminal for transmission and dispatch of crude oil for export. This entailed the negotiation of tariffs for the use of the various Kutubu facilities, which added further complexity to the commercial arrangements for field development. However, such arrangements did serve to optimise the use of existing field processing facilities, storage and transportation systems, and obviated the unnecessary and redundant duplication of petroleum infrastructure. In the case of the use of the Kutubu Export Pipeline by the producers of the Moran Joint Venture and Gobe Joint Venture, some companies were also parties to the Kutubu Joint Venture, whilst others were not. Beguiling arguments for high tariffs were made by those members of the Kutubu Joint Venture that were not involved in these new field developments, while conversely equally beguiling arguments were made for low tariffs by those members of the Moran and Gobe Joint Ventures that were not involved in the Kutubu Joint Venture. Those involved in the new field developments as well as the Kutubu project were quite mute in their tariff arguments. The threat of impending ministerial regulation, as was then permitted by the Petroleum Act, rapidly crystallised the thinking of the various licence ventures, and those commercially adamant arguments rapidly dissolved into a commercial and fair resolution of the tariffs!   Oil Field Production Both Gobe and Moran oil fields commenced production in 1998, some six years after the Kutubu field. Gobe reached peak production in 1999 at an annualised rate of 34,278 barrels of oil per day (bopd) and declined thereafter, whilst Moran only reached peak production in 2007 at an annualised rate of 21,503 bopd. The two fields contributed to supporting Papua New Guinea’s aggregate oil production as that at the Kutubu fields inexorably declined as reservoir energy was depleted. Figure 3:  Oil production history 1991 to 2022 after the Dept of Petroleum and Energy at 16th PNG Mining and Petroleum Investment Conference and Exhibition, Sydney, Australia, 2022   The development of the Kutubu field has, in retrospect, been a great success, with oil production continuing to this day, albeit much reduced in volume from its high production rate of its halcyon days when it almost reached 150,000 barrels of oil per day, plus production of the field’s associated gas. The Kutubu development was launched on the basis of recoverable oil reserves of just 164.8 million barrels, but as of 31 December 2019, it had produced 319.8 million barrels of oil. Based on an estimated original-oil-in-place volume of 556.2 million barrels, this suggests that the original projection of just 29% recovery has eventuated in as much as 57.5% recovery by the end of 2019. With production still taking place at about 3,000 barrels of oil per day, the Kutubu field is clearly reaching its last days. It does this in considerable glory as it reaches 60% recovery of its original oil-in-place, quite an extraordinary recovery factor. Admittedly, associated gas obtained from the field separators was originally re-injected into the field at the gas/water interface as a semi-miscible flood so as to enhance oil recovery, but even by the standards of such secondary recovery techniques, this level of oil recovery has been quite remarkable. Of course, a large uncertainty always remains in the petroleum geology, insofar as we do not have precisely mapped subterranean field limits on account of it not being possible to obtain clear seismic imaging of the reservoirs. We therefore cannot rule out the possibility that oil is being extracted from an original pool that may have a geometric volume and areal extent somewhat different from that originally conjectured, which was based solely on well penetrations and geological mapping. Figure 4: The Kutubu Oil Fields structural configuration. Red is gas overlying oil in green. The grid lines are five minutes apart by latitude and longitude. After the Scheme Booklet: Merger of Oil Search and Santos 2021.   Whilst the Kutubu fields have been a great success, both Moran and Gobe fields have had a chequered development history with various problems of one kind or another. The development of the Gobe fields started with feuding over operatorship between the Chevron-led joint venture and the Barracuda-led venture. Barracuda, a subsidiary of Mount Isa Mines Ltd, had acquired the small independent company Command Petroleum, which had bravely drilled the South East Gobe-1 discovery well as operator of Petroleum Prospecting Licence No. 56. Chevron’s prowess won out, and they retained operatorship over the Gobe field development and subsequent production. Intractable problems with customary landowner identification of the people of the Gobe area have persisted through development and production. The land of the Gobe Mountains was gazed upon by both people from the north and the south and only sparsely used for hunting and gathering and ancestral rights. The land was hotly contested, and ownership was very difficult to determine outright. The Government had to resort to using the Lands Title Commission to help determine landowner rights. With initial development delays, production never reached its planned output, only reaching 34,000 barrels of oil per day in September 1999. Additionally, reservoir problems were encountered which involved sanding problems due to the reservoir sandstone being extremely fragile and friable. Extensive extended well testing (EWT) at Moran enabled early oil production and the gathering of some very useful field production data. However, it depleted the reservoir pressure to such an extent that the associated gas started to effervesce from the oil and create a gas cap above the oil. This required re-pressurisation of the Moran oil field using gas sourced from the adjacent Agogo field. The Moran oil field’s high compartmentalisation broke the field into many small fragments which were often difficult to resolve. Gas Development Preparations In the absence of any further significant oil discoveries, the future was considered to lie in the development of the gas fields, where exploration drilling was demonstrating them to be significantly more abundant than oil by a factor of about ten times. The Government realised that its petroleum endowment was not so full of oil, but was comprised substantially of natural gas resources. It was recognised that it would be difficult to develop these in the absence of any domestic gas demand from households, commerce or industry, and all the more so because PNG is remote from the gas markets of other nations. Figure 5: An index map of discovered oil and gas fields of Papua New Guinea as of 1993. Of these fields, only Iagifu-Hedinia, Agogo, SE Gobe, SE Hedinia and Usano contained oil; the rest were gas fields, some with large amounts of gas.    Accordingly, in 1992, the PNG Government, through the newly established Petroleum Branch of the Geological Survey, commissioned a special study on all the discovered oil and gas fields of PNG. This work was conducted by the US firm Scientific Software Intercom in collaboration with the Government’s Petroleum Division and sought to assess the extent of the petroleum resources and reserves to proper and systematic standards of reserve reporting as were then published by the Society of Petroleum Engineers. Based on aggregation of the recoverable reserves, an economic study was then undertaken applying the then prevailing PNG petroleum fiscal and commercial regime. The results were presented to the National Executive Council, showing that if the gas fields discovered to date were aggregated, there could conceivably be a large-scale commercially viable gas development based on the export of liquefied natural gas (LNG) to energy-hungry East Asian markets. However, more work would be needed to obtain better estimates of the recoverable gas reserves, the quantification of gas field development costs and the construction costs of a gas conditioning plant, gas pipelines, liquefaction facilities, and storage and export facilities. The Government liked the idea of gas development and embarked on reviewing and examining suitable policies for such and began fostering the notion of gas development. Economic and policy studies were conducted and extensive discussions between gas field licensees, owners and promoters ensued. After extensive consultations between Government agencies and licensees, in 1995, the Government tabled a Natural Gas Policy before the Papua New Guinea Parliament. The policy laid down the regulatory, commercial and fiscal terms that the Government was willing to consider for the encouragement of investment in gas development. Key features were the introduction of Petroleum Retention Licences (PRLs) to allow the companies to keep their discoveries beyond the period of tenure provided by a normal Petroleum Prospecting Licence. These would be allowed in consideration of an acceptable programme of gas field appraisal and delineation, the conduct of commercial studies and development promotion by the licensees. So long as a field was currently not commercially viable, the PRLs would allow retention by the licensees for up to 15 years, and no longer. This was a significant encouragement to the holders of petroleum prospecting licences, which normally only gave a combined tenure of eleven years in which to explore, make a discovery and launch a field development. The introduction of PRLs recognised the very long lead time for large-scale gas development. The gas policy also introduced a single ring-fence for project development, including gas pipeline infrastructure, liquefaction plant and marine facilities. Based on considerable economic modelling and debate, the policy landed on a concept of 50/50 sharing of the net value between the developer and the Government. The income tax rate for gas operations was set at 30% of net profits, without any dividend or interest withholding taxes, and the State decided it would keep its right to take up to 22.5% equity in the entirety of any development, including the LNG plant and associated facilities. Royalty rates and development levies were left at 2% of the wellhead value. Fiscal stability was to be offered, but only upon payment of a 2% income tax premium and the execution of a Fiscal Stability Agreement with the Government. This was effectively an elegant user-pays principle. Standard depreciation allowances on capital expenditure and exploration would remain at 10% per annum and 25% respectively under the existing fiscal regime. These still represented a quite harsh depreciation schedule by petroleum sector standards because it is not possible to fully recoup one’s field development costs until ten years after expenditure, unlike more accelerated cost recoveries allowed in Production Sharing Contracts. With the foundations for commercial gas development defined by the new gas regulatory and fiscal regime, Exxon and BP pursued their LNG development plans based on the large Hides gas field with the idea of taking the gas to the north coast of Papua New Guinea. There in Madang, they planned to build a coastally located deep-water liquefaction plant sited next to deep-water fjords which would give direct access for LNG carriers to moor alongside these coastal facilities. However, these plans faltered due to the Asian financial crisis in 1997 and the consequent sudden reduction in East Asian LNG demand. The tragic and terrible tsunami that occurred in 1998 at Aitape on the north coast accentuated the seismic risk for an LNG plant on the north coast of Papua New Guinea. The tsunami demonstrated that, whilst placing any LNG facilities nearer to markets, any north-coast-located LNG facility would have to be built to much more exacting standards of construction and operation to cater for the additional seismic risk. The Petroleum Division, mindful of the seismic hazards of the northern part of PNG, had earlier commissioned a PNG Seismic Hazard Study from Dr Horst Letz, formerly resident seismologist at the Port Moresby Geophysical Observatory (and later to be the chief scientist who set up the Earthquake and Tsunami Warning Centre in Jakarta, Indonesia). This report was published around the time of the tsunami. It clearly defined the risk and indicated that a southern coast location for an LNG plant and facilities would be preferable, even if it meant a slightly longer shipping route for LNG carriers to transport LNG to likely markets in East Asia. Figure 6: Summary of earthquake return periods for terminals and pipeline corridors for magnitude M 6, M7 and M 8 earthquakes. The Hides-Yule Island route was the least seismically active. After Dr. H Letz Additionally, gathering gas from gas fields aligned with the prevailing geological structure of the Papuan Basin running north-west to south-east would have a better chance of collecting gas from multiple fields to be found in the same orientation rather than orthogonally across the dividing range of mountains and across the swamps of the Sepik River basin, all of which were void of gas discoveries. Later, BP withdrew from Papua New Guinea and took their ideas about larger-scale gas development by way of an LNG project to West Papua in Indonesia, where they successfully launched the Tangguh LNG Project in a similar environment, peopled again by Melanesians. When the amendments to the Petroleum Act were being prepared for gas development pursuant to the approved Gas Policy, the results of policy studies on landowner benefits (both royalty and equity sharing), strategic access to pipelines and petroleum processing facilities, and elementary domestic gas business provisions became available. An effort was made to incorporate them into the amendments to the Act. The Government was also intent on providing statutorily defined benefits to communities hosting any future oil and gas development, together with proper processes of consultation and liaison with communities, rather than having negotiated and often capricious benefit-sharing arrangements. For such benefits, the Government devised the idea of a separate Development Agreement between the community parties, sub-national Government parties and the State. The allocation of defined and additional benefits was to be agreed in a formally convened development forum. Proper professional research was also to be made as to land matters through the conduct of formal social mapping and landowner identification studies conducted by and at the expense of the petroleum licensees themselves, but with such studies being furnished to the Government for its use. Significant and specific political lobbying arose from the Southern Highlands Province, home to many of the known major oil and gas fields. The Province, quite bizarrely, wanted a separate Gas Act just for gas operations. For a while, it seemed that the National Government was stymied in its plans for gas development due to these concerns, but extensive consultations took place. In the resulting compromise, the Government agreed at the political level to introduce some of the reforms suggested by the Province, but only if the Act would remain intact, though it was now agreed that the new Act would be rebranded as the Oil and Gas Act, whilst still generically referring to petroleum for the most part. Thus, the Oil and Gas Act, No. 49 of 1998, was born. It represented a major restatement and overhaul of the former Petroleum Act and has paved the way for improved and formalised participation by communities and their sharing in statutorily defined benefits arising from oil and gas production. It is only a shame that timely and efficient benefit processing and reconciliation with the correct beneficiaries have been difficult at times to achieve. Disputation of land ownership has not helped in this matter. Figure 7: An early copy of the Oil and Gas Act No.49 of 1998 which was certified on 9th February 1999 and commenced on 18th February 1999. It replaced the Petroleum Act, No. 46 of 1977.     Gas to Australia Schemes Meantime, Chevron, realising that they were handling increasing volumes of associated gas in their operation of the Kutubu oil fields (as much as 400 million standard cubic feet of gas per day (MMSCFD)), bought out the commercial notions that the International Petroleum Corporation (IPC) (the early Lundin Oil Company) had about developing their offshore Pandora gas field. Pandora had been discovered by IPC in 1988 in the middle of the Gulf of Papua, and subsequently the company had plans of producing and piping gas to Townsville in Queensland, Australia, to supply a 200-megawatt power plant. Chevron had gas aplenty and was taking great pains to re-inject as much of it as possible into the reservoirs, but if that gas could be sold into a market, they considered that perhaps that could enhance their sales revenue and obviate the need to inject quite so much gas. There then ensued a period when all manner of gas development notions were focused on transmitting gas to Australia from the associated gas of the producing oil fields plus gas from development of the as-yet-undeveloped gas fields, such as Hides, Angore, Juha and P’nyang. Over the course of the next several years, various schemes to send gas southwards to Australia waxed and waned and struggled to gain traction. In the early 2000s, exploration reached an all-time low as corporate enthusiasm waned. There was little point in exploring for petroleum with the high likelihood of finding gas rather than oil, if even the substantial discovered gas fields could not be developed and produced. In 2003, Chevron departed the Kutubu Joint Venture as its material economic interest in the Kutubu Project diminished below its corporate threshold. It sold its Papua New Guinea assets and interests to Oil Search. Figure 8: The PNG Gas Project as at the end of 2005 waxed and waned in scope for several years The PNG Gas Project, also known as the PNG Gas to Queensland Project, or Gas to Australia Project, ended up at one time with over 4,300 kilometres of trunk gas pipelines and laterals hanging off the Papua New Guinea gas fields with nearly 250 PJ per annum (equivalent to about 600 million standard cubic feet of gas per day at 1,056 British Thermal Units per cubic foot) of potential gas sales. Alas, fundamental flaws in the concept led to most of those potential customers being quite quixotic. Figure 9: The variable potential markets for gas from Papua New Guinea prior to the switch to LNG development in 2006. After S. Khwaja, World Bank, 2005    Most of that infrastructure was in the north-eastern quadrant of Australia and its installation was to be expensed against the supply of gas to a wide and quixotic range of Australian gas customers. With low gas prices, high steel prices and the emergence of coal seam methane development notions in Australia, it was eventually realised that PNG might end up giving its gas away for nothing, and that the only value for Papua New Guinea might remain in the natural gas condensates extracted from the gas in Papua New Guinea. The PNG Gas Project for the supply of gas to Australia failed. Additionally, such a large-scale transnational activity needed considerable support from the Governments of both Australia and Papua New Guinea to protect sovereign interests. Fundamentally, Australia’s policy of gas-versus-gas competition and gas system regulation was at odds with such a trunk gas delivery pipeline, which would need special treatment within the Australian pipeline regime and due respect for its transnational delivery of gas. Eventually, in 2008, an abrupt turn was made to change all the development notions towards supplying gas to an LNG plant to be located on the Papuan coast beside the Gulf of Papua. An effort was immediately made to market the gas as LNG to East Asian markets. Australia had specifically encouraged gas-versus-gas competition, but in doing so it spoiled the market price for gas imports from countries such as PNG and encouraged the furtherance of coal seam methane (CSM) schemes to extract gas from extensive coal deposits in Queensland. Indeed, this later gave birth to Australian LNG export projects supplied by gas from CSM sources, the supply of which has not turned out to be so plentiful, necessitating the purchase of make-up gas from domestic markets and thus creating a domestic gas supply shortage along Australia’s east coast. In abandoning gas supply to Australia by pipeline, Papua New Guinea now needed to consider capturing the premium values that gas exports into energy-deficient East Asian economies were able to achieve. The dependence on external infrastructure and specific gas demands in Australia was not seen as either politically attractive or sustainable, nor was it commercially attractive due to low gas prices brought about by Australia’s gas competition policies. It was most fortunate that Papua New Guinea backed away from such schemes for the dispatch of gas to Australia. Thus was born the PNG LNG project. PNG LNG had many factors in its favour as a distinct source for LNG for supply to East Asian markets. PNG is a non-aligned Christian nation; it is not an Islamic nation. PNG was desirous of investment and keen for development based on commercial fiscal terms. PNG, as a nation, has open-ocean access and does not rely on any strategic straits. It has a Westminster-style Government and observes the principles of law and contract. PNG is favourably positioned to supply the Australasian region, but can reach out to serve Asian, Pacific and American markets. With diminishing oil production and the absence of new oil finds, PNG’s explorers needed to capitalise on prior exploration investments that failed to find oil. Gas in the new 21st century was no longer a hindrance and could be profitably developed, even extending the life of the oil fields. The PNG LNG project was projected to export LNG at a heating value of 1,135 BTU/SCF gas and the liquids were forecast to sell at US$60/barrel. Anticipated LNG prices were: US$8.07 per MSCF, equivalent to US$10.20 per MMBTU, or US$9.69/GJ. The original plant design was upgraded early on from 6.3 million tonnes LNG per annum to 6.9 million tonnes LNG per annum for production over a 30-year period. Gross income was estimated to be about US$74.3 billion. Even at US$50/barrel oil, the project was still forecast to yield US$61.9 billion in LNG sales. The gas is rich in natural gas liquids (NGLs), so at just 20 barrels of NGLs per million cubic feet of gas, some 210 million barrels of NGLs were forecast to yield an additional US$12 billion of sales revenue. In May 2014, PNG became an LNG exporter and is now producing consistently more than 8 million tonnes per annum (mta) LNG to customers in China, Japan and Taiwan – well above the nameplate capacity of the original LNG plant design. It got there because of fine operatorship on the part of ExxonMobil of a coherent joint venture. ExxonMobil was able to market the gas to top-quality customers and obtain superior project financing. The only major disappointment has been the collapse in crude oil prices below projections on several occasions, and hence the LNG prices due to the indexing with crude oil. For the first year, some elevated prices were obtained, but clearly the fall of crude oil below US$30 per barrel in the early days of LNG production hurt the project economics and outcomes to all stakeholders, as it again did during COVID-19 when LNG prices plummeted below US$3 per million British Thermal Units. Figure 10: The PNG LNG Logo was designed around Papua New Guinea’s distinctive cultural icons, a traditional mask, in Papua New Guinea’s national colours.  The two swishes represent has emerging from the ground. The nicks in the right swish suggest the plumage of Papua New Guinea stunning Birds of Paradise.   The PNG LNG Project produces gas from a variety of gas fields including the Hides and Angore gas fields, and the Kutubu, Moran, Agogo and Gobe oil fields. The more remote Juha gas field is set to produce gas later. Altogether, these fields have about 9 trillion standard cubic feet (TCF) of gas to contribute for liquefaction. Other discovered gas fields will likely be developed later and, despite being cast as different projects, will likely seek to optimise gas infrastructure; these are the P’nyang gas field and the Muruk gas field which can add about 5.25 TCF of additional gas for liquefaction. Quite how much gas will eventually be recovered from each field still has considerable uncertainty, just as stated before for oil recovery. This is due to the considerable remaining uncertainty of definition of the subsurface reservoir volume due to a lack of seismic imaging and lateral resolution of field boundaries. The geology is already complicated on account of the extensively folded and faulted nature of the strata, so we might anticipate some surprises, both positive and negative. Figure 11: The Hides Gas Conditioning Plant which conditions gas from Hides and Angore gas fields before transmission down the trunk gas pipeline to Caution Bay  Figure 12: The PNG LNG Project LNG Plant Terminal in Caution Bay where an average of nine cargoes of LNG is loaded each month. It sits at the end of a 2.4-kilometre jetty build out into Caution Bay Access to lands for the PNG LNG Project development came with resounding landowner consent after enormous development forums were held at project level in Kokopo in New Britain and at licence level in each licence area. During the forums, the sharing of the benefit streams of the 2% royalty, 2% free equity from the State, 2% development levy, and other project grants including business development and infrastructure grants were discussed. Oddly, whilst some grants were paid quite promptly, distribution of the royalties and equity benefits has been the subject of considerable delay, mainly due to some remaining uncertainties about landownership, often brought about by disputes over landownership. This is exceedingly difficult to accomplish where traditional customary title persists, often with multiple and overlapping ownership and usufructuary rights. But notwithstanding this situation, the landowners have been extremely patient, and in some cases, and for many years into LNG production and export, they have remained quite stoical. Aside from the statutorily defined equity benefit of 2% of the project, the Government agreed to provide additional equity to the communities in the amount of 4.2%. This was promised to them in the main PNG LNG Project development forum in Kokopo. This was to have been a commercial deal, but successively its commercial cost to the beneficiaries has been whittled down to nothing. Provided that this additional equity benefit can be managed properly and in accordance with the Oil and Gas Act, it will be a most valuable asset once the project finance has been paid down by the State. Elk/Antelope Gas Field A bold and entrepreneurial company called InterOil, championed by a charismatic leader Phil Mulacek, had two Petroleum Prospecting Licences (PPLs) in the Eastern Papua Fold Belt: PPLs 237 and 238. They were granted in 2003 near to small historic gas discoveries of the 1950s, such as Kuru, Puri and Bwata, each in Miocene limestones. In 2006, the Elk-1 well was drilled and declared to be a gas discovery in fractured Puri Limestone after testing at 21.7 MMSCFD. Two more wells, Elk-2 and Elk-4, were drilled to appraise the structure. Elk-2 penetrated the Puri Limestone below the gas-water contact. The Elk-4 well penetrated the Puri Limestone again, but at depth it intersected a gas-bearing reefal facies of shelfal limestone which was tested as a gas discovery. A thrust fault separates the Elk structure from a major feature to the south that was named Antelope. Seismic and regional analogy studies indicated that a significant reefal buildup occurs over the Antelope structure. Subsequently, wells Antelope-1 and -2 appraised the lateral extent of the field to the south with good reservoir quality to an approximate extent sufficient to realise that a substantial gas field had been discovered. InterOil applied for a Petroleum Retention Licence, which was designated PRL 15 on granting by the Minister on 10 November 2010. After many bold attempts to devise a scheme of development consisting of mini-LNG trains, including floating offshore LNG trains and all manner of deals, InterOil decided to farm down its equity and introduce an experienced project champion from amongst world-class players. After much wrangling and corporate intrigue, including arbitration hearings between new equity participants, InterOil finally left the Elk-Antelope gas field and its future development to a joint venture comprised of Total (as operator) 61.3%, Oil Search 22.835%, ExxonMobil 36.45% and other parties 0.5%. Altogether, some 10 wells have penetrated the Elk-Antelope structure, and the area is covered by several generations of 2-D seismic data. Subsequently, Oil Search merged with Santos and, once the project licences are granted, the Government will most likely exercise its lawful option to take equity at cost, reducing each participant's equity proportionately to give the final project equity as: TotalEnergies 31.1%, ExxonMobil 28.7%, Santos 17.7% and the State 22.5%.

PNG Air Limited advises the public that job vacancy advertisements currently circulating on certain social media pages and informal platforms are unauthorized. These postings were not issued or approved by PNG Air and misuse the airline’s corporate name and brand. Some of these advertisements contain false information, incorrect contact details and branding inconsistencies. They mislead applicants, damage the airline’s reputation and compromise the integrity of the company’s recruitment process. PNG Air formally requests that all unauthorized pages and administrators: Cease publishing recruitment content under PNG Air’s name; and Remove any existing unauthorized postings immediately. Official job vacancies are only published through the following channels: • PNG Air’s verified LinkedIn, Facebook, and Instagram pages • Approved recruitment partners (list names here) Applicants are advised to confirm vacancy details through official channels before submitting any personal information. PNG Air reserves all legal rights under the Cybercrime Code against unauthorized use of its brand and intellectual property. For enquiries, please contact: Marketing Team media.relations@pngair.com.pg

On International Women’s Day, Westpac PNG announced the official judging panel for the 2026 Westpac Outstanding Women (WOW) Awards, bringing together respected leaders and past award winners to recognise the next generation of female trailblazers across Papua New Guinea. In a reflection of the awards’ growing impact and legacy, each category will be judged by the 2025 category winner alongside a senior Westpac PNG leader, combining lived experience, professional expertise and a shared commitment to advancing women’s leadership. The 2026 judging panel is as follows: • Entrepreneur: Violet Bukon and Tanya Drost, Head of Risk, Westpac PNG • Not-for-Profit: Delsie Casper Nick and Venessa Vee, Head of Legal and Company Secretary, Westpac PNG • Private Sector: Raka Numa Raula and Miriam Rothera, Head of Retail, Westpac PNG • Public Sector: Dr Pamela Toliman and Olive Compain, Business Manager, Westpac PNG • Sports & Arts: Ruth-meu Omenefa and Taumaia Hellesoe, Head of Operations, Westpac PNG • Sustainability: Anne-Shirley Korave and Shannon Yap, Executive Manager, Business Controls & Monitoring, Westpac PNG • Young Achiever: Julie Rereve and Emma Low, Managing Director, Westpac Pacific The Overall Woman of the Year will be determined based on the highest-scoring category winner following the judging process. Westpac PNG Chief Executive Andrew Cairns said announcing the judging panel on International Women’s Day underscores the purpose of the WOW Awards. “International Women’s Day is about celebrating progress while recognising the work still to be done. The WOW Awards reflect our enduring commitment to elevating women’s voices and leadership across Papua New Guinea. We are honoured to have such an accomplished group of judges who bring credibility, insight and passion to this process,” Mr Cairns said. By pairing past winners with Westpac leaders, the awards continue to strengthen a network of role models who understand both the challenges and opportunities facing women across all sectors in Papua New Guinea. Westpac PNG also continues to strengthen women’s representation in leadership. Three of the bank’s seven directors are women, including the chairwoman, while women make up six of the 10 members of the executive leadership team. This representation reflects Westpac PNG’s commitment to inclusion, balanced leadership and creating pathways for women to lead at the highest levels of the organisation. Westpac PNG Chairwoman Tamzin Wardley said the judging panel reflects the values of the awards. “On International Women’s Day, it is especially meaningful to recognise the leaders who will help shape this year’s WOW Awards. Our judges represent excellence, integrity and service across their respective fields. By bringing together past winners and senior leaders, we are reinforcing the strength of this network and our commitment to ensuring women’s achievements are not only celebrated, but elevated and supported,” she said. Westpac Pacific Managing Director Emma Low said the awards aim to inspire impact across the region. “The WOW Awards are about more than recognition, they are about sparking impact. The women serving as judges alongside me this year understand firsthand the courage, innovation and resilience it takes to lead. Their involvement ensures the Awards continue to inspire ambition and confidence in women right across Papua New Guinea and the broader Pacific region,” she said. Now in its 24th year, the Westpac Outstanding Women Awards remain the country’s most prestigious recognition programme for women. Nominations for the 2026 awards are open until 31 May 2026. How to nominate Nominations for the 2026 Westpac Outstanding Women Awards are open until 31 May 2026. Details on the nomination process, eligibility and award categories are available at: https://www.westpac.com.pg/westpac-outstanding-women-awards/ Applications can also be submitted at any Westpac branch by completing the nomination form. The WOW Awards ceremony will be held in July 2026, bringing together industry leaders, government representatives and community advocates to recognise the achievements of Papua New Guinea’s outstanding women. Follow updates on social media: Facebook: https://www.facebook.com/westpacPNG LinkedIn: https://www.linkedin.com/company/westpacpng/ Join the conversation using #WOWA2026.