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The Minister for International Trade and Investment, Hon. Richard Maru in his meeting recently with the new Chinese Ambassador to Papua New Guinea (PNG), His Excellency Yang Xiaoguang made a commitment to deliver the PNG-China Free Trade Agreement (FTA) feasibility study report by the end of this month. Minister Maru said: “This report will determine the viability of an FTA between our two countries. This study has been jointly funded by both the Chinese and the PNG Government at the cost of K1 million each. The final work is now being done to complete the report before it is delivered to both Governments in November. On the process of the PNG side, the report, once it is delivered to me, will be submitted to the Cabinet for deliberation and direction and once that is done, we will proceed from there. If the study finds that it is feasible for us and in our national interest to go ahead with the FTA with China then we will recommend that FTA negotiations must commence in the new year.” Minister stated that China was fast becoming PNG’s most important trading partner. “For the past five years, trade between PNG and China has been in the favor of PNG recording surplus balance of trade from 2017-2021. In 2020, PNG exported K6.7 billion to China, imported K2.6 billion from China, with a trade surplus of K4.1 billion. China has been ranked 3rd as top export destination for PNG’s merchandise and also ranked 2nd as top import source for PNG. This indicates that trade with China is economical. We have realized that our future in terms of exports lies with China,” said Minister Maru. Minister Maru further stated: “After PNG signed the Belt and Road Initiative in 2018, PNG became China’s largest trading partner and investment destination in the region. China aided projects such as roads, bridges, hydropower stations, and have made important contribution to the economic development and people’s livelihood. We are encouraging more Chinese investments in all areas including the Special Economic Zones, mining and petroleum, energy, and fisheries.” “We are determined to grow and deepen our relationship with China and anchor it through an FTA between our two countries if our joint feasibility study confirms that it is viable and in our national interest to enter into an FTA with China,” added Minister Maru.

Mayur Resources Limited is pleased to announce the signing of a 10-year exclusive Strategic Alliance Agreement (Strategic Alliance) with Guangxi Zhongzi New Materials Co. Limited, a privately owned large-scale Quicklime and Limestone producer operating primarily in China. This agreement provides Mayur with immediate access to superior quality lime products, similar to what will be produced by Mayur’s Central Lime Project (CLP) in the future. Strategic Alliance Benefits The Strategic Alliance allows Mayur to immediately lead the branding, marketing, sales, and distribution of Superior Quicklime across Australia and the Pacific with Mayur’s Premium Grade (Typical CaO 92-94%) and Premium+ Grade (Typical CaO 94-96%) Quicklime products. This offers superior quality compared to Australian domestic production and imports from Malaysia and Thailand. This positions Mayur as the leader in providing high-quality Quicklime to these markets. Long-Term Complement to Mayur’s Own Production The agreement not only facilitates immediate sales but also complements Mayur’s long-term plans. Once operational, Mayur’s CLP will initially bring an additional 400,000 tonnes per annum of Quick Lime supply online, with immediate plans of expansion beyond two kilns shortly thereafter. One of the key advantages of this agreement is the guaranteed backup contingency, multi-jurisdiction supply source. Customers can have full confidence that Mayur will provide consistent access to superior Quicklime from multiple jurisdictions, ensuring reliability and supply chain security, all managed through a single, integrated organisation. This multi-jurisdictional sourcing strategy ensures that Mayur can deliver superior Quicklime quality consistently, regardless of market conditions. Strengthened Supply Chain and Logistics Our Partner operates several major production facilities across China, with a current capacity of 2 million tonnes per annum of Premium Quicklime. Ongoing expansion projects, including new Quicklime plants and enhanced logistical infrastructure such as a railhead with direct access to seaports, will further improve the efficiency and reliability of supply to Mayur’s customers. Combined with Mayur’s own international wharf facilities under construction, this creates a robust and seamless supply chain. Immediate Access and Customer Confidence This Strategic Alliance enables Mayur to offer its customers immediate access to a more diversified product range, with Mayur’s Premium and Premium+ Grade Quicklime products, while providing the assurance of a long-term, secure, and reliable supply once Mayur’s CLP is in production. The superior quality of Mayur’s product offering, combined with a diversified supply base, positions the company to meet the growing demands of the Australian and Pacific markets. With this collaboration, Mayur is uniquely positioned to deliver a comprehensive, customisable range of superior Quicklime products, tailored to specific market needs. The Strategic Alliance further aligns with Mayur’s strategy to expand its market presence across the Asia-Pacific region and demonstrates its commitment to providing the highest quality products and services. Mayur will now commence broader engagement with the Quicklime market, providing samples and organising bulk trials. Further updates will be provided as Mayur progresses towards the first sales of Mayur-branded Premium Quicklime.

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 supplied from Santos’ global portfolio of world-class LNG assets on a delivered ex-ship basis. Santos Managing Director and Chief Executive Officer Kevin Gallagher said the contract with TotalEnergies marks a new LNG relationship for Santos, building on its existing joint venture partnerships. “This oil-indexed contract, along with the recently executed long-term LNG Sales and Purchase Agreement with Hokkaido Gas in Japan and the mid-term contract with Glencore, demonstrates Santos’ strong LNG portfolio position and customer relationships in the region. Our portfolio is well-balanced over the short to medium term, with around eighty percent of volumes indexed to oil prices and about twenty percent exposed to spot pricing,” Gallagher said. “There continues to be extremely strong demand in Asia for high-heating-value LNG from projects such as Barossa and PNG LNG, as countries focus on reducing their carbon emissions. Santos is committed to supporting the energy security of our valued customers across Asia, where gas will play a crucial role in decarbonisation efforts throughout the region,” Gallagher added.

Prime Minister James Marape invited international investors and energy experts to collaborate with Papua New Guinea (PNG) in harnessing its diverse energy resources, including hydro, geothermal, and solar power, during his keynote address at the opening of the 2024 Petroleum and Energy Conference at the Hilton Hotel in Port Moresby. "We offer strong incentives and protections for investors," Marape assured attendees. "Your investments in our cleaner energy solutions will not only yield returns but contribute to a sustainable future." He emphasized the strategic advantages of PNG's location, being closer to Asian markets, and noted the nation’s vast forests provide a unique opportunity for environmentally-conscious investments, helping to offset carbon footprints. Marape’s address comes amid a global trend of increasing coal consumption, particularly in Asia, where he urged stakeholders to prioritize environmental stewardship. He highlighted PNG's carbon-negative status, noting the country's extensive forest resources capable of absorbing over 100 million metric tons of carbon. Marape also expressed gratitude to Kumul Petroleum, ExxonMobil, and all sponsors for enabling this platform for contemporary energy discussions with a PNG focus. "I'm honored to open this significant conference, focusing on the critical issue of energy and its impact on our planet, as well as what PNG is doing to regulate and promote the energy sector," he stated. He called for action against climate change, particularly in the Pacific Region, which faces significant risks despite its minimal carbon footprint, and reiterated PNG’s commitment to leading the change in clean energy production. "I want to bring the spotlight on the production of heavy carbon-filled fossil fuels, especially coal. It is hard to believe that in this modern age of space travel and superspeed technology, the world is still burning coal," he remarked. "Coal accounts for the largest share of electricity production worldwide, with gas coming in second. In Asia, economic growth and high populations have led to an unparalleled reliance on coal." Marape referenced reports from the International Energy Agency, which have highlighted alarming trends in coal consumption. Figures from 2020 to 2023 reveal that China accounts for a massive 50.5 percent of global coal consumption, followed by India at 11.3 percent, the United States at 8.5 percent, Germany at 3 percent, and South Africa at 2.4 percent, with Poland, Australia, and Brazil also noted. Recognizing the harmful effects of coal and other heavy carbon fossil fuels, Marape emphasized PNG’s determination to pivot towards sustainable energy solutions. "PNG is getting our house in order to ‘think globally and act locally’… Our own carbon footprint remains under 10 million metric tonnes, and despite the high cost of energy, we choose to differ now and into the future. We want to remain a clean green country and we want to make and lead this transition to clean energy." "I firmly believe that liquefied natural gas (LNG) is the best energy source for transition between now and life after 2050, if we are to keep Mother Earth. LNG is cleaner, more efficient, and aligns with our goal of reducing carbon emissions." "Our liquefied natural gas serves as a crucial transitional energy source, offering a cleaner alternative as we move toward a future powered by renewable energies," he added. Stakeholders from the business, industrial, and mineral sectors engaged in discussions focused on the development of PNG’s energy landscape, with an emphasis on securing a stable and sustainable energy future. Marape reaffirmed his government’s commitment to facilitating a secure investment environment while leading the transition away from heavy fossil fuels towards a greener economy. PEC 2024 is the only industry-specific conference focusing solely on the petroleum and energy sector. This sector is a major contributor to PNG's economic growth, and the event offered a unique platform for ministry officials, industry leaders, resource owners, innovators, and charitable organizations to unite and shape the future of PNG’s energy sector. Discussions included new policies, upcoming projects, and announcements in the petroleum and energy sector. Day 1 sessions included: The Global Picture – Supply and Demand PNG Hydrocarbon Projects Exploration and Stranded Field Development Value Maximization & Fiscal Regime Change Opportunity Day 2 sessions included: Energy Project Financing Electrification in PNG Industry Services Providers – Renewable Resources: Global Perspective, Technology, and Innovation Decarbonization & Energy Switch Roundup - Petroleum & Energy in Transition. The conference featured 41 official speakers over two days and 48 exhibitors. PNG Business News served as the official media partner of the event, also showcasing a booth during the conference.

Goilala District is aiming to secure an export license to tap into international coffee markets, according to Chairman and Goilala MP Hon. Casmiro Aia. “We have established contacts with Dubai and sent our first shipment of coffee through Niugini Spice and Coffee Exports, a subsidiary of the Agmark group. Now, we look forward to owning a coffee export license,” Aia said. The MP outlined his vision for the district during an exclusive interview with PNG Business News after receiving a processing certificate for a mini dry huller from the Coffee Industry Corporation (CIC). The Goilala District Development Authority (DDA) has committed K900,000 to coffee rehabilitation projects, allocating K300,000 for each of the district’s three Local-Level Governments (LLGs): Tapini, Woitape, and Guari. This investment aims to support the revival of coffee and other cash crops in the region. “Our district is vast, with a population that is spread across a wide area,” Aia noted, as under his leadership, the GDDA committed to supporting agriculture initiatives and bringing economic benefits to the district. Agriculture, particularly coffee production, is considered a key driver of economic development in Papua New Guinea. The recent presentation of the processing certificate, held on September 6 in Port Moresby, is expected to empower people in Goilala by providing them with a sustainable source of income. “The beauty of coffee and other agricultural activities is that they directly put money into people’s pockets. Other infrastructure projects are important, but what matters most is economic empowerment for individuals,” Aia said. Goilala is also preparing agricultural projects on potato, bulb onion, and honey, pending available funding. The district has been granted a license to mill and process coffee from parchment to green bean. Ensuring quality control is a key part of this process, which includes picking, washing, drying, milling, and polishing the beans before they are packaged in jute bags, the CIC noted. “We currently have one huller machine in use for Woitape LLG. We’ve requested two more machines for Guari and Tapini LLGs,” Aia added. “Our next goal is to purchase a polisher machine to further improve coffee quality.” The project also provides training and equipment such as pulping machines, coffee bags, pruning tools, nursery tools, and drying equipment, as support for coffee farmers. CIC representative Jacqueline Ruguna reaffirmed the corporation’s commitment to supporting coffee production in Goilala, “The management and staff are dedicated to ensuring the district's coffee reaches its full potential through ongoing collaboration with the GDDA and cooperative farmers,” she told PNG BN.

The Bank of Papua New Guinea (BPNG) Governor Elizabeth Genia addressed recent significant legislative changes to the Central Banking Act during the recent September 2024 Monetary Policy Statement presentation at the Royal Papua Yacht Club. The amendments, passed by Parliament in September, pave the way for the establishment of a new Monetary Policy Committee (MPC) aimed at enhancing the independence and transparency of monetary policy in PNG. “This is the last Monetary Policy Statement from the Bank of Papua New Guinea under the current governance structure,” Governor Genia stated. “The recently passed amendments include a provision for the establishment of a new Monetary Policy Committee, comprising myself as Governor, our Deputy Governor, and three appointees who are not members of the Bank of Papua New Guinea Board.” The new committee’s formation marks a critical step in strengthening the independence of monetary policy decision-making, Genia said. With only the Governor and Deputy Governor sitting on both the MPC and the Bank’s Board, the committee’s membership will be determined by the Head of State, based on advice from the National Executive Committee and the Treasurer. The appointment of the three additional committee members is expected to progress smoothly, with the aim of having the new MPC operational as soon as practicable. “This change will facilitate more robust discussions and decision-making processes in our monetary policy framework,” she noted. An essential aspect of the legislative amendments mandates the MPC to publish a statement following each meeting, detailing individual votes and the rationale behind decisions. “This will add transparency to the process of setting monetary policy and provide greater insight into the considerations behind our decisions,” Governor Genia explained. Moreover, the recent changes clarify the objectives of the BPNG, placing price stability as the primary and overarching goal.  “Our secondary objectives are to ensure financial stability; promote sustainable medium term economic growth, especially in the non-mineral and non-petroleum sector; and to promote the development of Papua New Guinea’s financial system,” Governor Genia said.

The Papua New Guinea Tourism Promotion Authority (PNGTPA) has officially partnered with the Jimi District Development Authority (JDDA) in Jiwaka Province to enhance local tourism and promote local culture on a global stage. This was formalised through a Memorandum of Understanding (MOU) signed on October 11 at the Ela Beach Hotel in Port Moresby. PNGTPA Chief Executive Officer Eric Mossman Uvovo described the MOU signing as "small but very significant." “What we can do is drive tourism at the district level, with the potential for cultural tourism, bird watching, festivals, and guided tours in the area, which is a global based tourism attraction,” he said. Uvovo acknowledged some challenges, including financing and law and order issues. He urged for a proactive approach, saying: “Let’s not wait for law and let’s take the tourism agenda head-on.” Hon. Wake Goi, the new Minister for Mining and Member for Jimi Open electorate, also stressed fostering partnerships for tourism promotion. He expressed a desire to explore how the mining sector could support local tourism, stating: “Let’s drive this tourism agenda.” Mr Gabby Aipanga, Chairman of the Jimi Marita Festival, outlined ongoing tourism promotion efforts, particularly around the Annual Jimi Marita Festival, which showcases the cultural, health, and economic significance of the Marita crop. The festival has been registered with the National Cultural Commission and has been in collaboration with the PNGTPA since 2022. The Jimi District, one of three districts in Jiwaka Province, is characterized by its mountainous terrain and lush rainforests. According to the 2011 census, the district has a population of approximately 70,000 to 80,000 residents. The festivals as discussed can also generate income through local tourists within the area, resulting in a boost of economic activity, Mr Aipanga said. The festival and other tourism initiatives aim to develop Jimi as a tourist destination through projects such as the Memints Track Development, a historical 32-kilometer track from Banz Township, ideal for bird watching and sightseeing; and the Mini Museum, a collection showcasing local handicrafts, art, and traditional tools. This partnership positions Jimi District as a vibrant cultural and tourism hub in PNG, with the potential to attract both domestic and international visitors. Attendees included Kennewton Kennedy TPA Executive Manager for Partnership and Product Development; Mathew Pyakali, CEO of JDDA; PNGTPA management representatives and JDDA officers.

By: Niki Alsford Niki Alsford is Professor of Anthropology and Human Geography, and Director for the Institutes for the Study of the Asia Pacific (ISAP) at the University of Central Lancashire. He is Research Associate at SOAS, the University of London and Associate Member of the Faculty of Asian and Middle Eastern Studies at the University of Oxford. In August 2024, I had the privilege of attending the Mount Hagen Cultural Show, one of Papua New Guinea’s most vibrant and significant cultural events. As I stood among the performers adorned in feathers, paint, and traditional attire, I couldn’t help but marvel at the richness of the island’s cultural heritage. The festival, or Singsing in Tok Pisin (a creole language spoken throughout the country), is a testament to the country’s cultural diversity, where over 800 languages are spoken, and each community has its unique traditions and customs. This diversity, combined with the stunning biodiversity, offers a tourism potential that is both unique and underexplored. Papua New Guinea (PNG) is a country that, by all accounts, should be a prime destination for global travellers. It boasts some of the world’s most diverse ecosystems, pristine beaches, and unparalleled diving opportunities, especially in regions like Milne Bay and Kimbe Bay. The rugged landscapes of the highlands are home to an array of bird species, including the rare and beautiful birds of paradise. Yet, despite these attractions, PNG remains one of the least visited countries in the world, with tourism numbers lagging many of its Pacific neighbours. The Potential and Perils of Tourism The potential for tourism to bring economic benefits to PNG is undeniable. In many developing countries, tourism has acted as a catalyst for economic growth, creating jobs, fostering small businesses, and bringing in much-needed foreign exchange. In PNG, where the economy largely depends on extractive industries like mining and oil, tourism could provide a more sustainable and diversified income stream. However, as with any developing nation, the influx of tourists comes with its own set of challenges. PNG operates on a dual economic system: a formal monetary economy that the government and larger businesses operate within, and a subsistence economy where the majority of the population engages in farming and bartering to meet their daily needs. The introduction of large-scale tourism could disrupt this delicate balance, particularly in the highlands, where traditional ways of life have been preserved to a greater extent than in the more urbanised coastal regions like Port Moresby and Lae. In the highlands, the economy is not driven by cash but by subsistence farming and the exchange of goods and services within the community. This system has allowed highlanders to live sustainably for generations. Introducing a tourism-driven cash economy could lead to social stratification, with those benefiting from tourism becoming wealthier while others are left behind. Moreover, the allure of easy money from tourists could lead to the erosion of traditional values and practices, which are integral to the social fabric of highland communities. Cultural Sensitivity and Responsible Tourism One of the most critical issues in developing tourism in PNG is ensuring that it does not lead to cultural exploitation or degradation. The highlands, in particular, do not need to be “developed” in the global sense of the word. Development here should not mean the imposition of foreign values or economic systems, but rather the empowerment of local communities to share their culture on their terms. Tourism in PNG should be approached with a model of cultural sensitivity and responsibility. This means developing tourism initiatives that are community-led and that prioritise the preservation of cultural heritage over profit. For instance, cultural festivals like the Hagen show should be supported in a way that ensures they remain authentic expressions of local traditions rather than becoming commercialised spectacles for foreign visitors. One approach could be to focus on low-impact, high-value tourism. This model would limit the number of tourists but increase the revenue generated per visitor. By targeting niche markets, such as eco-tourism, bird-watching, and cultural tourism, PNG can attract travellers who are genuinely interested in learning about and respecting local cultures and ecosystems. These tourists are more likely to spend money on local services and products, ensuring that the benefits of tourism are felt at the community level. The Importance of Infrastructure and Safety A significant barrier to increasing tourism in PNG is the lack of infrastructure. Many of the country’s most beautiful and culturally rich areas are difficult to access, with limited transportation and accommodation options. Investing in infrastructure is essential to make these areas more accessible to tourists. However, this must be done in a way that is sensitive to the environment and the needs of local communities. Safety is another concern that has deterred many potential tourists from visiting PNG. The country has a reputation for lawlessness, particularly in urban areas. While this perception is not entirely accurate, it does highlight the need for improving security, particularly in tourist areas. Collaborations between the government, local communities, and international partners could help address these issues, making PNG a more attractive destination for international visitors. Balancing Development and Preservation Ultimately, the challenge for PNG is to find a balance between leveraging tourism for economic development and preserving the country’s unique cultural and natural heritage. The highlands, in particular, represent a region where this balance is especially crucial. Development should not come at the cost of cultural erosion or environmental degradation. Instead, it should focus on empowering local communities to manage tourism in a way that benefits them economically while preserving their cultural identity. To achieve this, the government, NGOs, and the private sector must work together to develop tourism policies that prioritise sustainability and cultural sensitivity. This includes providing training for local communities in tourism management, developing infrastructure that benefits both tourists and locals, and ensuring that tourism revenues are reinvested into the community. As such, Papua New Guinea stands at a crossroads. The potential for tourism to bring economic benefits to the country is significant, but it must be managed carefully to avoid the pitfalls that have befallen other developing nations. By focusing on responsible, culturally sensitive tourism that prioritises the needs and desires of local communities, PNG can develop a tourism industry that not only brings economic benefits but also helps to preserve its rich cultural and natural heritage for future generations. Tourism without tourists might seem like a paradox, but in the context of PNG, it represents a model of development that respects and preserves the very things that make the country unique. By embracing this model, PNG can offer travellers an experience that is not just about visiting a new place, but about understanding and appreciating a way of life that has endured for centuries.

iPi Group’s purified 600ml water also known as “Tenkyu.wara,” is now available for purchase at Tango Supermarket, Tokarara, Port Moresby. Tenkyu.wara and the Tenkyu. initiative aims to promote not only healthy drinking water but also to engage clients and other business entities in a meaningful corporate social effort that empowers Papua New Guineans. Each purchase of Tenkyu.wara directly contributes to the growth and empowerment of communities within iPi’s operational sphere, reinforcing its commitment to giving back to the communities in which they work. iPi Group has also extended its support to other organizations by purchasing and donating Tenkyu wara as an alternate to cash donations. Tenkyu.wara can be sold to raise funds needed by those organizations or used for events such as water stations at fun runs. Early this year, iPi Group launched a partnership with Business for Health (B4H) to help combat TB and HIV, alleviating their burden on employees, families and communities in PNG. The profits from the sales of Tenkyu.wara goes towards supporting B4H’s efforts. The mission of our Tenkyu. initiative is to offer a win-win-win solution that offers quality drinking water, improved health and hygiene facilities, and support for our communities. By choosing Tenkyu.wara, you are not only quenching your thirst but also contributing to a brighter future for PNG. Remember, a little “Tenkyu” can go a long way to changing lives!

Resource development remains central to Papua New Guinea's (PNG) economic growth, and as the global shift toward greener energy continues, liquefied natural gas (LNG) is seen as a key transition fuel. During a media briefing on September 30th, Kumul Petroleum Holdings Limited Managing Director Wapu Sonk emphasized that PNG is ready to welcome investors in its energy and petroleum sectors. “While PNG transitions to more sustainable energy production, we aim to responsibly market our LNG globally,” said Sonk. He noted that LNG will continue to play a pivotal role in both domestic and international markets. The upcoming Petroleum and Energy Conference, scheduled for October 17-18 at the Hilton Hotel in Port Moresby, will serve as a critical forum for discussions on policy updates and new projects. Organized by Kumul Petroleum Holdings, the event will be the only conference dedicated to the petroleum and energy sectors in PNG. Policy Discussions and Fiscal Regime Updates Sonk stressed the need for changes in PNG's fiscal regime to maximize the benefits of resource extraction. “This conference is an opportunity to discuss existing and new policies that will shape the future of the sector,” Sonk noted. International speakers, including economist Dr. Fereidun Fesharaki and fiscal regime expert Daniel Johnston, are expected to attend. Johnston will provide insights on production-sharing regimes and offer comparisons with countries like Indonesia and Qatar to help PNG optimize its resource management laws. Sonk also expressed excitement about the insights PNG will gain from the University of Victoria’s presentation, which will assess the current state of the PNG LNG project a decade after its inception. “The government has been discussing fiscal regime changes by 2025. Where do we stand on that?” Sonk asked. Renewable Energy and Transitioning to Green Solutions The conference will also address PNG’s transition to renewable energy, as Sonk emphasized the changing global landscape, urging stakeholders to harness PNG’s vast energy resources responsibly. “Governments worldwide are adapting their policies, and PNG must do the same to remain competitive and ensure long-term sustainability.” PNG’s renewable energy potential is immense, particularly in hydroelectric, geothermal, and offshore wind energy, and Sonk pointed to the country's significant hydro capacity, estimated at 40-50 gigawatts, and offshore wind potential of up to 300 gigawatts. Collaboration and Energy Access Ronald Maketa, Managing Director of the National Energy Authority (NEA), added: “Despite being an exporter for over 20 years, PNG has yet to fully realize the economic benefits of its energy sector.” Maketa argued that PNG’s energy rates should be lower than those of neighboring countries and that improved energy access is key to driving economic growth. “Energy powers our economy. It is essential for job creation, industry development, and national prosperity,” Maketa noted. He also pointed to the Medium-Term Development Plan (MTDP), which prioritizes energy alongside agriculture and industrialization, as evidence of the government's commitment to advancing the sector. “We need cheaper, reliable, and renewable energy to support our development aspirations,” he added. Investment Opportunities and Industry Growth Petroleum and Energy Minister Hon. Thomas Opa highlighted the significant opportunities for investment in PNG’s energy sector, stating that the sector is a major driver of economic growth. "This industry creates jobs, generates state revenue, and funds infrastructure development across the country,” said Opa. He confirmed that several exploration licenses are currently being processed, including a significant offshore drilling collaboration between TotalEnergies and Petronas. “This project will be a first for PNG in many ways,” he remarked, adding that more details on exploration licenses and potential investors would be provided during the conference. As PNG continues to attract interest from major multinational corporations, Opa emphasized that sustainability remains a key focus. Companies like ExxonMobil and TotalEnergies are actively working to reduce their carbon footprints in PNG, aligning with global efforts to minimize environmental impacts. The 2024 PNG Petroleum and Energy Conference is set to attract national and international attention, providing a platform for policy discussions, investment opportunities, and networking. The event will also offer opportunities for brand promotion and enable businesses to showcase their projects to industry leaders and potential investors.