Papua New Guinea has welcomed the start of a major offshore oil and gas exploration campaign near Kupiano in Central Province, with Prime Minister James Marape saying the investment underscores international confidence in the country's energy sector.
The exploration programme, led by TotalEnergies and its partner Petronas, involves the drilling vessel Viking and is expected to attract between US$100 million and US$200 million in investment.
Petroleum Minister Jimmy Maladina represented the government aboard the Viking as project partners and stakeholders marked the commencement of drilling operations.
Marape said the campaign demonstrated Papua New Guinea's continued appeal as a destination for global energy investment and highlighted the importance of exploration in sustaining the country's petroleum industry.
"The presence of the Viking offshore near Kupiano is a strong signal of confidence in Papua New Guinea's resource potential," he said.
He said exploration remains the foundation of the country's resource sector, creating opportunities for future discoveries, new projects, employment and government revenue.
Marape added that while major developments such as Papua LNG and the P'nyang Gas Project remain priorities, continued exploration is necessary to support the long-term growth of the petroleum industry.
He said investment in offshore exploration also reflected the need for a stable and competitive investment environment capable of attracting capital for high-risk projects.
"Deep-water exploration requires substantial investment, advanced technology and confidence in the future of our country," Marape said.
The Prime Minister said the government would continue working with industry partners to promote responsible resource development while encouraging further exploration and investment across Papua New Guinea.
