The Papua New Guinea Chamber of Mines and Petroleum has applauded the signing of Heads of Agreements for the P’nyang Gas project. Chamber President, Anthony Smaré, stated “Our country desperately needs new gas and mining projects to bring in foreign exchange, create thousands of jobs, create significant business opportunities for PNG SMEs that desperat...
Papua New Guinea Prime Minister James Marape, accompanied by Petroleum Minister Kerenga Kua, Justice Minister Bryan Kramer, Gulf Governor Chris Haiveta and Hela Governor Philip Undialu, today met with the ExxonMobil President for Upstream Mr Liam Mallon in Houston and the senior executive team where the State executed Heads of Agreement (HOA) on P’nyang ...
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 ...
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 ...
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 und...
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 c...
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. Twinz...
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 awa...
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 s...
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 o...
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 Minis...
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 mi...
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 ...
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 proj...
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....
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 enter...
Follow on LinkedIn:
Be the "First" to get our exclusive Digital Magazine & Weekly Newsletter.
Our website uses cookies. By continuing to use this website, you are providing consent to our use of cookies.