The Pasca A offshore gas project in Gulf will go ahead once the gas agreement is signed and the petroleum development licence (PDL) is approved, says developer Twinza. Robert Gard, the chief executive officer of Twinza, made the statement while attending the recent induction ceremony for the 11th National Parliament in Port Moresby. “We are awaiting...

The Pasca A project's discussions will resume, according to Prime Minister James Marape.  Marape said that they would start dialogue with them after negotiations had been stalled for months. “I assure resources licence holders for Wafi-Golpu, Pynyang, Papua, Pasca A, and Porgera that to enjoy the benefits of the current regime, we need to work toget...

Photo credit: Jason Reed Santos today announced its half-year results for 2022, reporting record free cash flow of US$1.7 billion and underlying profit of US$1.3 billion. The results reflect significantly higher oil and LNG prices compared to the corresponding period due to stronger global energy demand combined with a higher interest in PNG LNG follow...

Commenting on the recent announcement by TotalEnergies that the Papua LNG joint venture will launch the first phase of front-end engineering and design (FEED) studies for upstream production facilities on the 5.4 Mt/year LNG project that they are operator of,  Kumul Petroleum managing director Wapu Sonk was congratulatory. He said, “As a potential co-v...

Photo credit: TotalEnergies TotalEnergies, as operator, has announced the decision of the Papua LNG joint venture to launch the first phase of front-end engineering and design (FEED) studies for the Papua LNG project's upstream production facilities. In parallel, studies for the downstream liquefaction facilities are progressing in line with the ove...

Photo: One of Oilmin’s Campsites in PNG In Papua New Guinea, Field Service providers are constantly challenged to adapt their operations based on the particular conditions encountered at the Project area of operations. A company which has been in the business of providing these services to the oil, gas and mining sectors for the past 30 years is O.M...

Photo: Santos is in a strong position with the announcement of the next tranche of backfill gas to maintain PNG LNG production and the final investment decision on the Angore Development project. According to Brett Darley, Santos President Upstream Oil and Gas, who spoke at the recent Australia PNG Business Forum in Brisbane, the first gas from Ango...

Since the start of LNG production, more than K14 billion has delivered sent to the state from the PNG LNG project. ExxonMobil in 2021 delivered K2.2 billion to the State. K7.1 billion to Kumul Petroleum Holdings Limited and an estimated K4.5 billion in various taxes were paid to the Internal Revenue Commission since Production in 2014. “The revenues...

On May 8, 2022, the Independent Consumer and Competition Commission will remove the 10% GST on fuel products from its calculation template. At a news conference in Port Moresby, ICCC chief commissioner and interim chief executive officer Paulus Ain announced. He stated that the import duty and excise duty on gasoline, diesel, and ZA1 will be totally...

Santos Managing Director and Chief Executive Officer Kevin Gallagher said Santos delivered record production, sales revenue and free cash flow in the first quarter, demonstrating the strong performance of the base business and strategic benefits of our diverse portfolio. Strong production combined with higher commodity prices delivered record quarterly...

The $US12 billion Total-led Papua LNG Project will begin front-end engineering and design in June 2022. Total Energies Senior Vice President Asia Pacific Julien Pouget verified this, who stated that the business is dedicated to seeing that the project is completed, adding that the PNG Total Energies team, led by managing director Jean-Marc Noiray, is o...

The Papua New Guinea Chamber of Mines and Petroleum congratulates the Papua New Guinea Government and joint venture partners ExxonMobil, Santos and JX Nippon on the execution of a gas agreement to guide the development of the P’nyang Project.  Prime Minister James Marape, Petroleum Minister Kerenga Kua, Exxon Mobil’s Peter Larden and Santos’ Brett Darl...

Photo credit: Santos Ltd Santos has joined the Papua New Guinea Government and P’nyang project participants (affiliates of ExxonMobil and JX Nippon) to execute a gas agreement that provides a clear framework for P’nyang’s future development. The signing of the gas agreement marks a major milestone for the project, setting out the fiscal framework an...

Prime Minister Hon. James Marape, MP has announced that his Cabinet has cleared the P’nyang Gas Agreement, which now awaits signing between the State and ExxonMobil who is the lead project developer of the Petroleum Retention License (PRL) 3. The Prime Minister said: "When I took office in mid-2019, I committed to the nation better results from resourc...

Photo: Napa Napa Oil Refinery in Port Moresby Puma Energy PNG, the country's largest fuel and energy provider, claims that changes in crude prices have a direct influence on energy market import parity pricing. Import parity pricing is a pricing mechanism used by goods providers to establish prices for their domestic sales to domestic consumers base...

Petroleum Minister Kerenga Kua attended a virtual meeting in Beijing with Snr Vice President of Chinese Petroleum Giant SINOPEC. Minister Kua accompanied Prime Minister James Marape to Beijing and held a separate meeting to discuss various aspects of PNG's petroleum business, including how SINOPEC can best partner in upstream and downstream processing ...