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...

Prime Minister Hon. James Marape has recently commended multinational oil and gas corporation, ExxonMobil, for continuing its exploration in Papua New Guinea over the last two years, which has revealed “some good finds”. The Prime Minister said the company has spent up to $300 million on exploration in the last two years. “From my discussions with E...

Photo: Patrick Pouyanné, CEO TotalEnergies, and Toshiya Nakahara, CEO of JX Nippon (Credit: JX Nippon) Japan, the largest importer of liquefied natural gas (LNG) from Papua New Guinea (PNG), has further strengthened its position in the country's LNG sector. Japanese oil and gas exploration company JX Nippon has acquired a 2.58% stake in the Papua LNG p...

Marking yet another milestone for the Papua LNG project, six (6) of the required petroleum license applications licenses were submitted to the Department of Petroleum and Energy (DPE) on May 30th, 2023. DPE Secretary Mr David Manau while addressing the key stakeholders present at the submission, stated that his department will continue the review and e...

The advantages of having a second Liquefied Natural Gas (LNG) project in a country like Papua New Guinea is important and strategic in that the people are attached to the land, and they want to feel they are part of the extraction of resources and wealth -- and they can only do that through the development of their customary land. The focus has shifted...

Santos refers to its announcement of 27 September 2022 regarding the binding conditional offer from Kumul Petroleum Holdings Limited (Kumul) to acquire a five per cent interest in PNG LNG for asset value of US$1.4 billion, including a proportionate share of PNG LNG project finance debt of approximately US$0.3 billion (the Offer). On 23 December 2022, Kumu...

Santos achieved a new production, revenue, and underlying profit record in the last financial year. According to Kevin Gallagher, Managing Director, and CEO, these results were driven by strong customer demand and higher commodity prices. During the recent annual general meeting, Gallagher emphasized that 2022 was the first full-year period after the merg...