Prime Minister Hon. James Marape announced recently that the “transformational” PNG LNG Project has brought in K26.3 billion in economic benefits to Papua New Guinea since the export of the first gas in 2014. He made the announcement at the Hilton Hotel in Port Moresby while addressing a dinner commemorating the 10th anniversary of the PNG LNG Project. ...
Kumul Petroleum Holdings has awarded a contract to OilMin Holdings Limited to carry out seismic work in two petroleum retention licences where KPHL is the operator. General Manager, Fintan Lalor, signed the contract on behalf of OilMin. Kumul Petroleum managing director, Wapu Sonk, said,”This contract award is the next step in our management of the pet...
The staff of PNG Extractive Industries Transparency Initiative (PNGEITI) attended a one day workshop hosted by ExxonMobil’s Government Relations team. It was an information sharing session aimed to shed light on various aspects of the PNG LNG project, particularly its benefits that will have a positive and long lasting impact on the country. ExxonMo...
The Mineral Resources Development Company Limited (MRDC) and Twinza recently announced they have executed agreements for MRDC to acquire an up to 50% Participating Interest in Twinza’s Pasca A Project, and for both parties to cooperate in the acquisition and development of future oil and gas opportunities in Papua New Guinea. In a statement, MRDC, Twin...
Kumul Petroleum Holdings has organised more shipments of fuel, including vital Jet A1 to alleviate the current shortages experienced by the country. Kumul Petroleum managing director, Wapu Sonk, advised,” We are aware that current fuel importers are unable to meet the demand for fuel, particularly the Jet A1 used by the aviation industry, and once agai...
Prime Minister Hon. James Marape recently praised the economic opportunities the Papua LNG Project and the Wildebeest LNG Project are set to bring, as both natural gas projects underline the potential for business growth and development in the region. PM Marape called on the residents of Gulf Province to prepare to supply goods and services to the fort...
Papua New Guinea Prime Minister Hon. James Marape has emphasized his intention to engage in discussions with Japanese Prime Minister Hon. Fumio Kishida regarding the Papua LNG project. During a recent presentation on April 30th, Prime Minister Marape expressed his desire to formally extend invitations to Japanese contractors for bidding on the construc...
Kumul Petroleum Holdings Limited recently announced that for the first time it was directly marketing Liquified Natural Gas on the ‘spot’ market from its share of product from the PNG LNG Gas Project that was not committed to long term sales agreements. Confirmed last month, the deal is to sell 144,000 m3 of LNG on FOB terms to PetroChina International...
Prime Minister Hon. James Marape announced that Papua New Guinea continues to be a prime destination for business ventures, highlighted by PetroChina International Co. Ltd’s recent entry into the nation’s hydrocarbon industry. On a historically significant day for the oil and gas sector on Wednesday, April 17, 2024, Prime Minister Marape officially wel...
James Marape, the Prime Minister of Papua New Guinea and Patrick Pouyanné, Chairman and CEO of TotalEnergies, met together to discuss the status of the Papua LNG project. On this occasion, Patrick Pouyanné reaffirmed to the Prime Minister that TotalEnergies, operator of the project, and its international partners ExxonMobil, Santos, JX Nippon, are full...
Prime Minister Hon. James Marape recently announced the Government’s determination to diversify Papua New Guinea’s fuel sources. This announcement came upon his return from a two-day visit to Singapore, where discussions were held with Puma Energies, the nation’s primary fuel supplier, and various other potential suppliers. The Prime Minister announced...
The Government and the project partners for the US$12 billion (or K36 billion) P'nyang LNG project in Western signed the Fiscal Stability Agreement on March 18, 2024 in Port Moresby. [1] Prime Minister James Marape was present at the signing at the Government House, Konedobu. He expressed his gratitude and commendation to ExxonMobil, the project partn...
A shipment of diesel and Jet A1 was recently discharged at NapaNapa to assist the country address its current fuel shortage crisis. The National Government, under the Essential Services Act and through an NEC decision, mandated Kumul Petroleum Holdings to find commercial solution to help the country manage the energy crisis. KPHL took over a shipment o...
Prime Minister Hon. James Marape has begun discussions with alternate global fuel traders to open up the market to properly secure the country’s energy supply needs. Prime Minister Marape is being accompanied at these meetings by Petroleum Minister, Hon. Jimmy Maladina. PM Marape said, “We are in initial discussions with reputable global fuel trader...
Kumul Petroleum Holdings Limited, Papua New Guinea’s national petroleum and energy company, announced recently that all necessary verification had been completed with the representative company of the PDL 2 landowners, enabling them to receive their portion of accrued Kroton Equity Option (KEO) preferential dividends. Wapu Sonk, Managing Director of Ku...
During the 2023 PNG Resources and Energy Investment Conference and Exhibition in Sydney last 11 December, Brett Darley, Santos Executive Vice President for Eastern Australia and PNG, highlighted Santos as one of Australia’s biggest domestic gas suppliers and a leading Asia Pacific LNG supplier. Darley expressed his gratitude to the PNG Chamber of Resou...
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