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...

It was a significant milestone for the Department of Petroleum and Energy after its completion of the National Ministerial Determination No. G967, No.G968 and No. G969  for the Papua LNG Project that was successfully gazetted and published on the 6th of December by the Government Print Office. This was announced officially by the Minister of Petroleum ...

Steamships’ logistics division has invested more than Kina 80 million (approximately USD21 million) in the acquisition of three tug and barge sets to support Papua LNG projects. These tugs and barges have been transferred into the Papua New Guinean flag, expanding the availability of high quality locally owned marine assets available to LNG operators and ...

Jerilai Pujari Holdings Limited (JPHL) and OM Holdings Limited (trading as Oilmin Field Services- OFS), have jointly announced their partnership, resulting in the establishment of Jerilai Pujari Field Services Limited (JPFSL) with an equal 50% ownership stake with equal representatives from both companies sitting on the JPFSL Board. In 2014, the 11 cla...

The Government of Papua New Guinea is set on establishing carbon-negative clean energy as its priority over crude oil and coal even as it takes its place among carbon-trading countries. Prime Minister James Marape revealed this recently at the Petroleum and Energy Conference at Hilton Hotel along with planned major legislative measures as PNG is set to...

The Government is set to make significant legislative changes in the energy sector, with plans to introduce a bill to establish the National Petroleum Authority in Parliament before the year's end, according to the announcement made by the Minister of Petroleum and Energy, Kerenga Kua, during the recent Petroleum and Energy Conference. Minister Kua out...

Kumul Petroleum Holdings has announced that it has finalised agreement with Santos to purchase a 2.6% equity interest in the PNG LNG Project for US$576 million, plus US$160 million share of project debt. Kumul Petroleum’s managing director, Mr Wapu Sonk said, “This transaction is the culmination of many months of discussions that have taken place with ...

Earlier in June, Don Bosco Technical School (DBTS) entered a Memorandum of Understanding with TotalEnergies EP PNG (TEP PNG) as operator of the Papua LNG project, to receive assistance through a scholarship program. The program was rolled out last month, with scholarships available to students studying technical trades at DBTS and the event today, was ...

During questions without notice on the 9th of August, 2023 Rufina Peter, the Governor for Central Province, in a two-part question asked the Minister for Petroleum and Energy, Kerenga Kua, if a firm determination of gas reserve volume from the Elk/Antelope fields had been fixed and confirmed for future revenue, planning, and budgetary purposes. “Papua ...

At Parliament House recently, Kumul Petroleum Holdings presented the Government with a dividend cheque for K250 million Handing over the interim dividend payment to Treasurer, Ian Ling-Stuckey, and SOE Minister William Duma, Wapu Sonk, Managing Director of Kumul Petroleum Holdings said, “KPHL is fulfilling the commitment it made in its 2023 Annual Oper...

On the 6th of July, 2023, Petroleum & Energy Minister Hon. Kerenga Kua, officially signed the Memorandum of Approval for transfer; of a 2.58% equity share from the operator of the Papua LNG project TotalEnergies EP PNG (TEP PNG) to JX Nippon Oil & Gas Corporation. Witnessed by the joint venture partners of the Papua LNG project, , as well as St...

Earlier in May and in the first week of June, the Papua LNG Project team successfully updated local and international business houses in Papua New Guinea (PNG) the status of the Project, as well as crucial information regarding Upstream Project packages of interest. Two information sessions in the form of breakfast events, were held in partnership with...

Photo: Patrick Pouyanné, CEO TotalEnergies, and Toshiya Nakahara, CEO of JX Nippon (Credit: JX Nippon) JX Nippon oil and gas exploration has received approval to acquire a 2.58 percent stake in the Papua LNG project from TotalEnergies EP PNG Ltd. According to Paulus Ain, commissioner and CEO of the Independent Consumer and Competition Commission (IC...

The planned Fabrication Facility came one step closer today, when Kumul Petroleum Holdings signed a contract with China State Construction Engineering Corporation PNG Limited China to undertake Phase 1 of early works civil work. The contract was signed by Wapu Sonk, managing director of Kumul Petroleum Holdings, and Wang Ounan, general manager of the c...