The talks between ExxonMobil and the government on the P'nyang gas project have been hailed as "good" by Prime Minister James Marape.
Last month, the two companies signed a letter of intent to commence project talks.
“ExxonMobil will be resuscitating conversations on the P’nyang gas fields which is up north from the present PNG LNG. P’nyang will be brought back to the table,” he said.
Marape just departed the nation to attend the UN General Assembly in New York and continue discussions with the firm.
“If I could win above present thresholds, as far as where our laws allow or winning better than the PNG LNG and Papua LNG, we will come back with news on how P’nyang will be,” he said.
“But we will be pushing hard on ExxonMobil.”
ExxonMobil and the State Negotiating Team are “in excellent discussions,” according to Marape, based on the indications received.
“Hopefully, my showing-up in Houston, Texas, the headquarters of ExxonMobil, will cement how the future of P’nyang will be, subject to how the negotiations will come to a conclusion,” he said.
“It might be a win/win for us, a win/win for them that embraces also the PNG LNG area footprint and the legacies that we are living with as far as the PNG LNG project is concerned.”
Marape said once negotiations with ExxonMobil were completed, “we should (know) how P’nyang will feature”.
He estimated that the Papua LNG project will be completed in 2024/ 2025.
“We would like to extend the construction phase in the LNG sector to two, three years, piggybacking on the possibility of bringing P’nyang into the picture.”
Reference: The National (21 September 2021). “Discussion on project good: PM”.
According to a market statement, Santos Ltd and Oil Search PNG Ltd have completed their merger through a merger implementation deed.
Reciprocal confirmatory due diligence, which began on August 6, has been completed.
Oil Search shareholders will get 0.6275 per cent new Santos shares for each Oil Search share held on the plan of arrangement's record date, according to the conditions of the merger.
Around 38.5 per cent of the combined company will be owned by Oil Search stockholders.
Santos stockholders will own around 61.5 per cent of the company.
The board of directors of Oil Search unanimously recommended that shareholders vote in favour of the merger.
Each director of Oil Search plans to vote in favour of the merger with all of the shares in Oil Search that they own or control.
According to Santos, the merger of Santos and Oil Search will result in a regional champion with the following characteristics:
Oil Search chairman Rick Lee said, “Put simply, this merger provides Oil Search shareholders with a compelling opportunity to participate in a larger entity with significant scale, product mix, ESG and geographic diversity, and access to capital.
“The combined entity will have the capacity to deliver on an exciting pipeline of organic growth opportunities.”
Santos Chairman Keith Spence said, “The merger represents an attractive combination of two industry leaders to create a regional champion of quality, size and scale with a unique and diversified portfolio of long-life, low-cost oil and gas assets.”
Reference: Pacific Mining Watch (13 September 2021). “Santos, Oil Search seal deal”.
Photo Credit: Loop PNG
According to Petroleum Minister Kerenga Kua, the proposed merger of Oil Search Limited by Santos must be in the best interests of the country.
While Kua recognizes the significant contribution Oil Search Limited has made to the country, he believes that a merger will result in the company's identity being lost and subsumed under another new business, which will have ramifications.
“The Prime Minister has said that whilst this is a free and open market and because the Oil Search business is based in Papua New Guinea, the Prime Minister has emphasised that Papua New Guinea’s national interest must be factored into the merger arrangements.
“Us as ministers we have been instructed to monitor the national interest components and consequences of the merger,” he said.
As a result, Kua stated that they will be closely monitoring the merger to ensure that the good culture that has grown and becomes a daily expectation for Papua New Guineans, particularly landowners, is preserved, maintained, and built upon.
“There’s nothing we can do about the merger process itself as it is a free market and that’s noble business taking its course but any entity resulting from the merger must always remember the Oil Search culture that has been of considerable benefit to the people of Papua New Guinea.
“That contribution that Oil Search use to make must not be lost when you have a new entity from the merger,” he said.
Reference: Yafoi, Melisha. Post-Courier (6 September 2021). “Oil Search Merge Must Serve National Interests, Says Kua”.
President of the Papua New Guinea Chamber of Mines and Petroleum, Anthony Smaré, has applauded the Marape-Basil government, Petroleum Minister Kerenga Kua, ExxonMobil PNG, and their joint venture partners for agreeing to reengage in negotiations on the P’nyang project in Western Province.
Mr. Smaré said “In light of the extremely challenging economic conditions in PNG, the P’nyang and Papua LNG projects, are projects that are desperately needed to be kick-started to kick-start the country’s stagnant economy creating jobs, bringing in foreign exchange and providing opportunities for PNG businesses, particularly SMEs in the impacted areas”.
“I congratulate the Prime Minister, Minister Kua, the SNT and Exxon Mobil and its partners for restarting these negotiations, and strongly encourage them to secure a win-win outcome that sees the progress of the P’nyang project in the near term, and in turn helping PNG and our people.”
In making the announcement of re-engaging in negotiations on P’nyang, on August 20###sup/sup###, Petroleum Minister Kerenga Kua highlighted the economic importance of these two projects alone.
“The benefits of phasing the construction of both Papua and P’nyang projects over an eight-year period shall be a substantial boost to the economy and the country.
“This tremendous investment would extend our gas pipeline infrastructure into the country’s Western Province and have a meaningful and lasting economic impact for Papua New Guinea and its people,” Minister Kua said.
He also announced that there would be a series of workshops regarding the development of the P’nyang Gas Fields, and if these continued unhindered, an expected signing of a P’nyang Heads of Agreement could be expected by end of this month, with a Gas Agreement to follow.
“While there continues to be misinformation on the true impact of resource projects in the country, the government remains fully aware that projects which remain in the pipeline, will not be able to effect much financial benefit, until they are negotiated and commissioned.
“This announcement by government of re-engaging with ExxonMobil PNG and its joint venture partners on the P’nyang project, is an extremely positive step in the right direction,” Mr. Smaré said.
Article Courtesy of the PNG Chamber of Mines and Petroleum
According to country manager Roppe Uyassi, Twinza Oil Ltd would not sign the non-disclosure agreement in the manner supplied by the government.
He was reacting to Prime Minister James Marape's recent comment that he was dissatisfied and had "ran out of patience" with the way the business was handling the finalization of the Pasca A gas accord.
Twinza is the owner and operator of a gas project 95 kilometres off the coast of the Gulf.
“I am running short of patience,” Marape said last week.
“Sometimes they (Twinza) have a funny habit of going to the media first before sitting down with the State Negotiating Team (SNT).
“I can go to the petroleum advisory board next week if they (Twinza) keep us running around like this.
“I want Twinza to get it correct: if they’re serious about this project, the SNT is ready at any time.
“One of the Twinza guys should jump on a plane, get into Port Moresby, and talk to us face-to-face if they feel that their local executives don’t have the mandate to make final calls.”
During a recent Parliament session, Petroleum Minister Kerenga Kua stated that the SNT and Twinza will sign a non-disclosure agreement that would remain confidential until the gas agreement was inked.
Uyassi, on the other hand, said they were waiting for SNT to start writing the gas deal.
“We have informed the minister and the SNT that we are not able to sign the non-disclosure agreement in the form sent by the State Solicitor.
“If both parties engage in good faith with mutual cooperation, the drafting should be a matter of days.
“So a non-disclosure agreement is a distraction.”
Reference:
Mauludu, Shirley. The National (30 August 2021). “Twinza not signing deal: Exec”.
Photo Credit: Kumul Petroleum - Minister for Petroleum, Hon. Kerenga Kua MP, officially announced the award of a fourth Petroleum Retention Licence (PRL) the Pandora License to the Managing Director of Kumul Petroleum, Mr Wapu Sonk on Friday, 03 September 2021.
Kumul Petroleum Holdings Limited (Kumul Petroleum) welcomes the government’s decision to award a fourth Petroleum Retention License (PRL) to the national oil and gas company (NOC). This decision comes less than five months after the awarding of three licences.
The Minister for Petroleum, Hon. Kerenga Kua, in officially announcing the award, described the occasion as momentous for Kumul Petroleum as Papua New Guinea’s NOC.
“In April of this year, I announced the Marape-Basil Government’s support of the decision of the Petroleum Advisory Board (PAB) to grant PRL 48, PRL 49 and PRL 50 covering the Kimu, Barikewa and Uramu gas fields to Kumul Petroleum. Today’s announcement brings the total amount of PRLs awarded to Kumul Petroleum to four”.
Minister Kua said the award empowers Papua New Guinea’s own NOC to take a “significant step forward in its mandate” and thereby also fulfils the Marape-Basil Government’s greater vision of ‘Take Back PNG’. He said he as Minister for Petroleum is pleased that our own NOC has technically and financially prepared itself to take on some of the licenses as their terms expire, and also be able to support the Papua LNG, Pasca and other developments like P'nyang when they happen. He expressed confidence in the technical capabilities of the nationals employed by KPHL and urged the NOC to swiftly progress development plans to commercialise these fields and proceed to developing them as soon as possible”.
Upon receiving the award of the Pandora License, the Managing Director of Kumul Petroleum, Mr Wapu Sonk thanked the PAB and the Minister for Petroleum for having confidence in the NOC’s capabilities and for recognising the NOC as an important partner in the Government’s ‘Take Back PNG’ vision.
The Pandora license is the fourth PRL that Kumul Petroleum has secured this year, and presents for the NOC the opportunity to put to test aggregation and development concepts which the company has been developing. He said Kumul Petroleum will now be able consolidate these asset and move toward commercialising fields which were previously held by different owners and were otherwise considered stranded, isolated and economically challenging.
Kumul Petroleum’s commercialisation plans will include further to drilling of delineation and development wells and project capital investments. Hence to mitigate Kumul Petroleum’s associated risk exposures, the company will look to invite joint venture partners and technical service providers with the requisite technical and financial capabilities who will assume critical roles in the development of these gas fields.
Mr Sonk stated that “Kumul Petroleum will commit itself to work with the Department of Petroleum in carrying out the licence conditions. We will also look at the best way possible to commercialise this licence so that it benefits our people who have entrusted us to hold this licence”.
Article Courtesy of Kumul Petroleum
According to Oil Search, the oil and liquefied natural gas (LNG) markets have continued to recover from the economic effects of the coronavirus illness (Covid-19 pandemic), with Asia leading the way.
Acting chief executive officer Peter Fredricson said: “We have seen a significant increase in core earnings, reflecting higher realised oil prices and a sustained focus on reducing underlying costs, whilst a lower net debt position has contributed to a significant improvement in the company’s overall financial strength.”
He just reported a net profit of US$139 million (about K478.81 million) for the half-year ended June 30, 2021.
“Solid operational performance allowed PNG LNG to continue producing above nameplate capacity, despite curtailed volumes during the completion of a major planned maintenance program. Operated oil production grew by 3 per cent from the first half of 2020 with the Moran field outperforming,” Fredricson said.
“Our continued discipline towards capital management has bolstered our balance sheet. Introducing a level of commodity price hedging into our strategy reduces the company’s downside exposure to oil price volatility and, in the half, we were able to participate in the oil price upside above our hedged floor price of US$55 (K 189.45) per barrel.
“In support of our ambition to achieve net-zero carbon emissions by 2050, we have implemented a carbon abatement programme and commenced programmes that aim to deliver a 30 per cent reduction in GHG intensity across our operated facilities by 2030.
“Our commitment to sustainability for all stakeholders has been reinforced with the release of an updated HSES Policy and Manual, the launch of our Human Rights and Sustainable Communities Policies and then registration of our first modern slavery statement.”
Reference: The National (25 August 2021). “LNG markets recovering from impacts of Covid-19: Official”.
Exxonmobil PNG and the government have joined forces to ensure that the P'nyang gas project in Western Province is ready for negotiations in the coming weeks.
The project's letter of intent was signed, paving the way for it to get off the ground.
The P'nyang project has been on the table since 2019 when the State began looking into the possibility of signing a gas deal with ExxonMobil and its joint venture partners as project developers.
According to Minister of Petroleum Kerenga Kua, these negotiations were concluded in January of last year, allowing both the State and ExxonMobil to take a breather and rethink their respective strategies.
“We are grateful that Exxon is now prepared to invite us to recommence our discussions one more time.
“This time we intent on making sure that we cross the line bring all good faith and sincerity to the negotiations to enable us to reach some terms and conditions that are satisfactory to both sides so that the project can happen for all our mutual benefit,” Minister Kua said.
He explained that negotiating a project agreement is difficult since developers have their own internal standards and the state has its own expectations.
“I can only be hopeful and encourage Exxon to attempt to understand where we are coming from to help us to realise some of the revenue returns back to the country.
“This process will start very shortly.
We are hoping that around 9th or 10th of September the parties can convene in one room and try to stress out terms and conditions to potentially develop this project,” he said.
Peter Larden, managing director of ExxonMobil PNG, praised the Papua New Guinea government for taking this critical step ahead in the development of the P'nyang project.
He stated that the initiative will benefit all stakeholders directly and will encourage continuing investment and growth in the nation, as well as increasing capacity and ensuring the social and economic well-being of Papua New Guineans.
“The intent to develop the P’nyang field helps demonstrates the encouraging growth opportunities for our operations here in Papua New Guinea and together with our joint venture partners, we look forward to working closely with the government and the landowners to progress the P’nyang field development proposal and secure the license as needed to develop this resource,” Larden said. “I thank the PNG Government for its support and I look forward to progressing our discussions.”
Yafoi, Melisha. Post-Courier (23 August 2021). “Kua: P’nyang On The Table For More Talks”.
Photo Credit: Oil and Gas Today
By a vote of 79 to 0 in Parliament, the Oil and Gas (Papua LNG Project) Amendment Bill 2021 was approved, granting Total – the Papua LNG project's developer – unrestricted rights to proceed with the pre-FEED and FEED procedures before seeking a development license.
The bill, which was introduced in Parliament by Minister of Petroleum Kerenga Kua, is in accordance with the conditions of the Papua LNG Project Gas Agreement, which was signed in April of this year.
The Oil and Gas (Papua LNG Project) Amendment Bill 2021, according to Kua, explains the changes to the Oil and Gas Act 1998 made by the Oil and Gas (Amendment) Act 2020 (No. 11 of 2020), often known as the "2020 Amendments."
According to Kua, the Oil and Gas (Papua LNG Project) Amendment Bull 2021 only affects the Papua LNG Project Gas Agreement and any application for a petroleum development license for the Papua LNG project, not any other gas agreement, project, or petroleum development in Papua New Guinea, and confirms that, in accordance with the spirit and letter of Clause 9.6 (a) of the Papua LNG Project Gas Agreementment.
He stated that the Papua LNG project participants are now working on the technical modifications required so that the two Papua LNG Project liquefaction trains can operate independently of the previous third train at the PNG LNG project's Caution Bay location.
He went on to say that after that's done, and once FEED begins, they'll file an application for a petroleum development license.
He also stated that, due to the Papua LNG project's high capital intensity, it must be financed using a combination of loans from lenders and equity from the project's sponsor.
“Prompt passage of the proposed bill during this parliamentary session will demonstrate to sponsors, LNG buyers, and financiers the State’s continued full commitment to the Papua LNG Project, contract sanctity and the fiscal and regulatory regime contemplated by the Papua LNG Project Gas Agreement.
“This is why we are proposing this bill for approval.”
This oil and gas (Papua LNG Project) Amendment Bill 2021, according to him, is restricted to:
Minister Kua stated that there must be some give and take in any commercial deal and that this law provides assurance to the Papua LNG Project sponsors and financiers so that the project may proceed to FEED in accordance with the mutually agreed timeline announced in May 2021.
“This is pivotal to progressing a timely development of Elk and Antelope gas fields that delivers maximum benefits to recognized landowners, the project-affected communities, the Independent State of PNG and of course the project’s developers and financiers,” he said.
Prime Minister James Marape stated that under the benefit agreements, the government would get 51% of the project's proceeds, while the developer would receive 49%.
He said that, in addition to the 51 percent, the country may gain from more local content, domestic market requirement, and third-party access, among other things.
According to Marape, the bill's approval includes an essential change that is excellent news for the treasurer because it is part of his economic forecast for 2002 and beyond.
The opposition has also endorsed the bill, claiming that it is the greatest and most outstanding initiative available.
Reference: Elapa. Jeffrey, Post-Courier (23 August 2021). “Papua LNG Good To Go”.
According to an official, Santos Ltd will stay disciplined and cost-conscious as it enters its next phase of expansion and progresses with the proposed merger with Oil Search Ltd.
Despite lower average LNG prices, Santos managing director and chief executive officer Kevin Gallagher said this following a half-year report of a free cash flow of US$572 million (approximately K2 billion).
“The proposed merger is a compelling combination of two industry leaders to create an unrivalled regional champion of size and scale with a unique diversified portfolio of long-life, low-cost oil and gas assets,” he said.
“The merged company would have strong cash generation from a diverse range of assets which provides a strong platform for sustainable growth and continued shareholder returns.”
The combination, according to Gallagher, would strengthen their industry-leading commitment to environmental, social, and corporate governance.
This is accomplished by combining Santos' net-zero 2040 strategy, which includes industry-leading carbon capture and storage projects, with Oil Search's distinctive social programs in PNG, all of which are backed by a solid balance sheet to support the transition to a lower-carbon future.
“I am pleased with the progress we are making on due diligence and look forward to the signing of a binding merger implementation deed in the coming weeks,” Gallagher said.
Meanwhile, the half-year results included a record production of 47.3 mmboe (million barrels of oil equivalent), record sales volumes of 53.8 mmboe and an underlying profit of US$317 million (about K1.1 billion).
“These results again demonstrate the resilience of our cash-generative base business and strong operational performance across our diversified asset portfolio,” he said.
“Consistent application of our low-cost disciplined operating model continues to deliver cost reductions and efficiencies despite cost challenges across the industry and the Coronavirus (Covid-19)-related cost impacts in the base business.”
The National (18 August 2021). “Firm Enters Next Phase In Merger”.
The government and Twinza Oil Limited are in the process of negotiating the conditions of the proposed Pasca A project. According to Transparency International PNG chairman Peter Aitsi, the oil and gas project in the Gulf should publish a quarterly update to keep the public informed on the status of talks.
Twinza and the Government will sign a secrecy and non-disclosure agreement, according to Petroleum Minister Kerenga Kua, which will prevent the parties from disclosing material to the public while discussions are underway.
This came after Twinza issued a statement expressing their dissatisfaction with the state negotiating team's modifications to the Pasca project gas deal. The secrecy and non-disclosure agreement, according to Kua, will ensure that a statement is issued only once a final decision has been taken.
A non-disclosure agreement, on the other hand, according to Aitsi, is a commercial contract that allows parties to keep their talks private and establishes a level of confidence between them.
He said that if they didn't, they'd be "leaking economically important information."
“On Twinza, as a publicly-listed company, they have a strict obligation to keep their shareholders and the stock market updated on any transaction or events impacting the company that could have a material impact on the share price or performance targets,” Kua said.
Reference: The National (13 August 2021). “Talks over Pasca A should be made public: Aitsi”.
Photo Credit: Petroleum Exploration Society of Australia
A non-disclosure agreement between Twinza Oil and the state will be signed soon to keep information about the Pasca A project private until a final decision is reached.
Following a recent public announcement by Twinza stating that the state has not honoured its pledge for the offshore gas project, State solicitor Daniel Rolpagarea proposed this suggestion.
When responding to Gulf Governor Chris Haiveta about the status of this gas project agreement, Minister for Petroleum Kerenga Kua told Parliament that negotiations are an important aspect of projects like Pasca A, which require the analysis of relevant government agency heads to advise government through the State Negotiating Team before signing.
Kua also expressed regret to the developer for the state's failure to achieve the project's planned schedule, revealed last month.
He stated that the state and developer have already agreed on the conditions, which include the state's stake, which is the most important aspect of the discussions, but that the details of those agreements would be handled later.
“That’s where the lawyers become involved and they write up the full draft agreement and then does a page turn and agree on each paragraph and page and settle the whole document,” he said.
“Last Friday the SNT received the agreement a week early and consulted the BPNG Governor, IRC Commissioner and get advice from Treasury Secretary among others to analyse and send advice to the state solicitor, state solicitor will see their comments and relay that into the gas agreement.”
Twinza was supposed to sit down with the agreement and go back to the SNT to discuss their issues from the draft agreement, according to Kua, but instead, the developer took their gripe to the media.
“I have written a letter on Prime Minister’s request to send to Twinza today.
“Again encouraging them to move away from the media.
“We met with SNT and state solicitor general Daniel Rolpagarea who was present and the state solicitor proposed that he will prepare confidentiality and non-disclosure agreement that must be signed between Twinza and the state.
“This is so that people won’t run to the media while the negotiations are in progress,” he said.
“Once we have a final product now, that’s when the announcement will be made so state solicitor is preparing that to be signed as the negotiations pick up again.
“We have given them 6 days for them to get into serious discussions (SNT and Twinza) by the 16th of August 2021 they must make some meaningful progress because if they don’t after the 16th we will decide whether we continue the negotiations or we suspend or terminate it.”
Reference: Yafoi, Melisha. Post-Courier (12 August 2021). “Twinza, State To Sign Non-Disclosure Pact”.
The US$12 billion (K41.28 billion) Papua LNG project is on track, according to Petroleum Minister Kerenga Kua.
Pre-feed (front end engineering design) work has already begun, Kua informed Parliament.
The real feed will begin at the end of this year and last until 2022.
In 2023, there will be a Fid (final investment decision) and a building phase. Kua said the Government was guaranteed that the project will be completed after meeting with Total E&P Ltd's vice-president this week.“is a top priority for the company”.
“They have already started work on the pre-feed process,” Kua said.
“The actual feed process will start around October and November.
“And that will take another four months or so to complete.
“It will take up 2022.
“And by 2023, they will be in a position to go into a final investment decision. Once they cross that line and secure financing, construction will begin slowly in 2023.”
Social mapping and landowner identification, among other steps, must be accomplished, according to Kua, in order to reach the development forum level.
“A big part of that process has been completed and we are ready.
“But there is a court injunction in place stopping us (from continuing) with the process for landowner identification and social mapping.”
Kua stated that his agency has applied to the National Court to get the injunction lifted.
Reference: The National (12 August 2021). “LNG project ‘on track’”.
Photo Credit: Post Courier / Department Secretary David Manau
According to a department official, the petroleum and energy department is getting several requests from holders of petroleum prospecting licenses (PPLs) to prolong the term of their licenses.
It suggested, according to Department Secretary David Manau, that it was difficult for the enterprises to conduct business in the country at this time.
There are separate licenses for exploration, petroleum development, petroleum retention for found gas reserves that are considered sub-economic, pipeline, and petroleum processing facilities, Manau said during a media workshop in Port Moresby.
“There are four main licenses under the Oil and Gas Act.
“During the Covid-19 period, most of the license holders applied for an extension of time.
“It is an indication that there is difficulty in doing business currently in the petroleum industry.
“We have also had surrenders. Surrenders (indicate) that it is difficult to do business in PNG.”
He said there had been 100 PPLs throughout the years. “Now, 58 are currently under tenure.
“In terms of retention license, there are 11 active ones.
“Three were awarded in 2021,” he said.
“Even though during the Covid-19 period, there were seven PPL awarded.
“All other licenses remain the same.”
Reference: Mauludu, Shirley. The National (6 August 2021). “Requests for extensions”.
Photo Credit: PNG LNG Project
Kerenga Kua, Papua New Guinea's petroleum minister, wishes to see the PNG government, ExxonMobil PNG, and the PNG LNG project enhance their beneficial relationship.
Peter Larden, the new managing director of ExxonMobil PNG, was greeted by Kua, who said, “We look forward to working with him on a wide range of economic and social programmes that continue to transform the lives of Papua New Guineans”.
Natural resource projects play a vital role in the future of this country’s economy and the development of its people,” Kua said.
“The PNG LNG project remains an industry leader not just in creating revenue for the country, but in providing opportunities for Papua New Guineans to grow as technical specialists and business leaders.
“PNG citizens including 20 per cent women now make up 91 per cent of PNG LNG’s total workforce – a fantastic achievement. This is a testament to EMPNG’s commitment to national content.”
Andrew Barry, who has been with the PNG LNG project for over six years, has been promoted to vice-president of Global LNG Marketing for ExxonMobil in Singapore.
Reference: Pacific Mining Watch (26 July 2021). “Papua New Guinea Minister wants strong relations with ExxonMobil”
The landowners of Hela's Angore region, as well as ExxonMobil PNG, have been hailed by Papua New Guinea Petroleum Minister Kerenga Kua for the resumption of the Angore Project.
Following the outbreak of the Covid-19 pandemic in 2020, the project was temporarily halted.
The Angore pipeline was created as a link between the PNG LNG facility and the pipeline.
The building of a new well pad, accompanying infrastructure, and a pipeline linking the Angore gas deposit to the Hides gas conditioning facility is part of the original PNG project development plan.
“The Angore tie-in project will support future revenues to the State as well as royalties to local landowners once completed,” Kua said.
“The Covid-19 continues to impact local businesses and the economy, thus it is fantastic to see the Angore works progress.”
Kua expressed gratitude to the residents of Angore for their support of the initiative.
He emphasized the necessity of maintaining a long-term degree of social stability in the neighbourhood so that the project may be completed on schedule and benefit the community.
“ExxonMobil PNG is meeting its commitments not only to the Government but also to the people of Angore,” he said.
“As a minister, I call upon all of the leaders in Angore as well as provincial and national officials and other stakeholders to work together with ExxonMobil PNG to make this a success.”
During the building phase, the project will provide local employment and commercial possibilities, as well as a variety of community investment projects in the Angore region.
Reference: Pacific Mining Watch (26 July 2021). “PNG Petroleum Minister Kua praises landowners for restart of project”.
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