The Asian Development Bank (ADB) and the Government of Papua New Guinea (PNG) have signed a $100 million policy-based loan to improve governance and accountability across the public sector.

The Strengthening Public Sector Management Program is supporting the government’s efforts to enhance fiscal management, improve state-owned enterprise (SOE) governance, and strengthen accountability institutions in the country.

PNG Minister for Treasurer Ian Ling-Stuckey and ADB Country Director for Papua New Guinea Said Zaidansyah signed the agreement in Port Moresby.

“The program will support the government in strengthening legal, regulatory, and institutional frameworks for improved governance and accountability in the country while also building in climate change considerations into public sector management,” Mr. Zaidansyah.

The program comprises a series of two policy-based loans of $100 million for subprogram 1 in 2024 and $150 million for subprogram 2 to be disbursed in 2026.

It covers three main pillars. The first supports improved revenue collection and public debt management, while the second supports continued improvement in SOEs’ financial reporting and audit, procurement frameworks, and corporate planning and annual reporting. Reforms in the third area will strengthen critical accountability frameworks and institutions.

Kumul Petroleum Holdings Limited managing director, Wapu Sonk, today handed over a cheque of K150 million to the State Owned Enterprises Minister Hon. William Duma, as final dividend payment for the year.

Mr Sonk said, “This has been a tough year financially for KPHL, we have had to meet our PNG LNG Project JV cash calls associated with the finalisations and connection of the Angore field, raise the finance necessary to acquire an additional 2.6% in the PNG LNG Project and assisting the Government and nation by importing fuel when the fuel crisis arose earlier this year. However, we are happy to make this K150 million dividend payment, in line with our 2024 Annual Operating Plan.”

Mr Sonk added, “This is the final payment for 2024, a year in which we have paid a total of K300 million in dividends. Since the start of the PNG LNG Project exports in 2014, Kumul Petroleum has paid a total of K3.2 billion in dividends to the State.”

“In addition to payment of dividends since 2014, Kumul Petroleum has paid the State more than K1.1 billion in return of capital, which is part payment of the Kroton equity on behalf of impacted landowners and provincial governments under the vendor finance loan agreement signed between KPHL and beneficiaries in December 2016.”

He noted that aside from direct dividend and return of capital payments, KPHL has spent millions of Kina on health, education, rural electrification and other infrastructure projects, including helping the Government deliver sports outcomes, the latest one being the NRL licence for the PNG franchise to enter the Australian NRL competition in 2028. 

“Kumul Petroleum is actively managing its four petroleum retention licences, carrying out work that will make these more attractive to investors, so currently stranded gas fields can be aggregated and commercialised. This expenditure will pay dividends in future years.”

“KPHL is also actively working with our JV partners, ExxonMobil, Santos and TotalEnergies, in further petroleum development projects like Angore, well drilling in Hides, Muruk, Juha and P’nyang.

Mr Sonk continued, “Apart from its ongoing commitments, KPHL is also preparing to participate actively in the forthcoming Papua and P’nyang LNG projects, where we intend to take up our full mandated equity of 22.5%. We will have the necessary financial position and balance sheet to participate, which includes paying the 2% free carry interest for landowners and provincial governments.”

“Kumul Petroleum is thankful for the support received from Prime Minister James Marape, Minister Duma, past and present petroleum ministers and other key Government agencies that will enable us to continue to develop and expand our activities to fully exploit PNG’s advantageous position as a key energy supplier to the Asian market.”

KPHL’s contractor, China Petroleum Pipeline Engineering, a subsidiary of China National Petroleum Company has begun construction of a Jet A1 fuel import and storage facility at a site adjacent to the Motukea wharf.

 Kumul Petroleum Managing Director, Wapu Sonk said, “This facility is part of the commitment we made to the Government and people of PNG earlier this year when there was a fuel supply crisis. We said that, apart from facilitating short term imports of fuel, we would ensure that we will organise medium and longer terms solutions so that such fuel supply crises would not occur again in future.”

“At Motukea, KPHL is constructing infrastructure for the import and storage of Jet A1 fuel, including four 3,000 cubic metre fuel tanks, associated ship offloading and truck loading equipment and the necessary safety and environmental control facilities.”

Mr Sonk explained that KPHL had been busy dealing with other stakeholders in this important project. This included having the necessary geotechnical studies carried out, liaison with PNG Ports Corporation, CEPA, NMSA, other utilities, services providers and regulatory agencies who have to approve various aspects of the project.

“KPHL has engaged China Petroleum and Pipeline Engineering Company Limited and China Petroleum and Pipeline International Limited to carry out the construction and commissioning of these facilities.”

“This construction is Phase 1 of the project. It is a significant activity and investment for Kumul Petroleum.  Once it is complete and operating, we will consider a second phase which will involve constructing  additional storage tanks, pipeline and support facilities for diesel and petrol imports and storage.”

Mr Sonk explained further, “KPHL is happy to assist the Government put in place critical infrastructure to ensure that Port Moresby and other parts of the country is never again faced with an energy crisis, which is so important for our economy and development as a country.”

Mr Sonk further thanked the Marape-Rosso Govt, especially Minister Duma, and the  management of KCH and PNG Ports for their support in making sure the project becomes a reality.

As the New Year opened, a call for unity and compassion for Vanuatu resounded across Papua New Guinea from Port Moresby.

The Governor for the National Capital District, Hon. Powes Parkop, announced a charity drive aimed at supporting Port Vila, the sister city of Port Moresby, which was devastated by a 7.3-magnitude earthquake on New Year’s Eve.

The disaster claimed 14 lives, left countless injured, and caused widespread damage, inducing landslides that crushed cars and reduced buildings to rubble.

At a press conference, Governor Parkop said: “Our sister city, Port Vila, has suffered a terrible tragedy. We stand in solidarity with the people of Vanuatu during this difficult time, and we are committed to doing everything we can to help them rebuild.”

The cornerstone of this charity drive is a music festival scheduled for the end of January at the Sir John Guise Stadium. Featuring renowned local talents such as Betty and John Toea, Makali Tau, and Fijian artist Elina Onno, the festival aims to unite the community in support of relief efforts.

“This music festival will be a celebration of community spirit. We hope it will bring people together to support a worthy cause and show the people of Port Vila that they are not alone.” He said. 

To start the initiative, Parkop and the National Capital District Commission (NCDC) have pledged K100,000. The Governor also acknowledged the national government’s commitment of K20 million to support Vanuatu's recovery efforts, thanking Prime Minister James Marape for his leadership.

Donations can be made to the Earthquake Relief Initiative by Hon. Powes Parkop, NCD Governor, through BSP Bank (Account Number: 1000962618). For more information, contact Melissa Brabar at 742 41055 or via email at melissabrabar88@gmail.com.

“Every kina donated will make a difference in the lives of those affected by the earthquake,” Parkop urged. “Let us show our sister city the strength of our compassion and support their journey to recovery.”

The Governor emphasized the importance of compassion during this season of giving. “As Christians, it is our duty to show empathy and solidarity, especially during the Christmas period. By contributing what we can, we can help our Melanesian brothers and sisters recover from this tragedy.”

Parkop emphasized the need for collective understanding and action, both domestically and regionally.

"We must look after our own people, but we can also extend our support to the global community, especially our regional neighbors. Smaller economies with limited resources, like Vanuatu, are often the ones most affected," he said.

The Governor also underscored the historical and cultural ties between PNG and Vanuatu, recalling PNG’s pivotal role in supporting Vanuatu's independence during the 1990s and noted the presence of a significant PNG community in that country, particularly in Port Vila.

"We are reaching out to our people there as well. Vanuatu has always appreciated PNG for its solidarity, and this is a moment to reaffirm that bond."

Beyond the immediate crisis in Vanuatu, Parkop stressed the importance of peace and reconciliation at home.

"Whether in personal life, community well-being, or national progress, peace is fundamental to achieving any goal," he said.

The Governor urged citizens to embrace the spirit of Christmas by uniting and reconciling as a nation.

"Our Golden Jubilee is an opportunity to think deeply about our journey as a nation. It’s a time to evaluate our progress and reaffirm our commitment to building a peaceful, united, and prosperous country," he said.

"Let us recognize peace as an integral part of our gospel and a foundation for economic, political, and social outcomes. Together, we can ensure a brighter future for our nation and our region."

The European Union (EU) Delegation to Papua New Guinea has launched the Green Diplomacy Week 2024, a three-day event aimed at fostering local partnerships for sustainability, environmental protection, and climate action.

Held from December 11 to 13 at the Moresby Arts Theatre, the event highlighted the EU’s global commitment to combating climate change while promoting youth leadership in environmental advocacy.

The Green Diplomacy Week serves as a platform for promoting dialogue, cooperation, and youth leadership on climate action and environmental conservation.

This year’s event in PNG focuses on inspiring youth engagement and leadership, with students from various schools in the National Capital District forming the primary audience.

His Excellency Jacques Fradin, EU Ambassador to Papua New Guinea, and Hon. Powes Parkop, National Capital District Governor and Guest Speaker, led the opening ceremony, followed by the screening of the environmental film “Into the Jungle,” which explored biodiversity conservation challenges.

A post-screening discussion featured conservation experts emphasizing the crucial role of local communities in environmental protection.

 “The EU is committed to working with partners around the globe to address challenges and drive the necessary green transition,” Ambassador Fradin said.

“In Papua New Guinea, the EU has been a long-standing partner on climate and environmental action through initiatives like the EU-FCCB and EU-STREIT programmes. We are delighted to dedicate this year’s Green Diplomacy Week to youth leadership.”  

The campaign actively engages youth from across PNG in panel discussions over two days, focusing on leadership in climate action, biodiversity, forestry, and sustainability.

“These discussions will provide an opportunity for young people to ask critical questions and explore solutions to address biodiversity loss, climate change, and sustainability challenges as our nation faces these pressing issues,” said Ambassador Fradin.

The Green Diplomacy Week launch aligns with Governor Parkop’s broader vision of transforming Port Moresby into a sustainable, eco-friendly, and thriving city where development goes hand in hand with environmental stewardship.

“As the leader of our capital city, I have been vocal on climate change not only at the national level but also as part of a global community. I am ready to partner with all our international friends to address the challenges that threaten our planet,” said Parkop.

The governor reiterated the need for partnerships with developed nations to ensure PNG progresses economically while preserving its natural environment.

“As a carbon-neutral nation, we face many challenges in achieving economic growth. However, through collaboration with nations that have advanced technologies and experience, we can develop sustainably without destroying our environment,” he said.

Parkop called for continued global support to protect PNG’s rainforests, which are “not only crucial for the nation’s future but also for the planet’s environmental balance.” He said PNG is home to some of the world’s most ecologically significant tropical rainforests, covering over 70% of the nation’s land area.

These forests form part of the third-largest contiguous rainforest on Earth, serving as a vital biodiversity hotspot with species unique to PNG, therefore the country’s involvement and support through forest preservation is paramount, he said.

“Together, we must safeguard what we have learn from global best practices to ensure economic progress aligns with environmental protection. This partnership is essential for creating a cleaner, greener, and more resilient Port Moresby and Papua New Guinea,” he added.

Program Highlights

The Green Diplomacy Week program also included additional film screenings aimed at raising environmental awareness.

A panel discussion on “Youth Leadership in Climate Action and Sustainability” saw young environmental leaders and the EU Ambassador sharing strategies for empowering future climate advocates.

The EU-FCCB Programme will also announce Master’s Scholarship and Research Grants to support climate and biodiversity research in Papua New Guinea, reinforcing the EU’s investment in the country’s sustainable future.

The European Union recognizes that climate change, biodiversity loss, land degradation, desertification, and pollution are interconnected global crises that threaten security and development.

As a leading force in global climate action, the EU remains committed to the Paris Agreement and works collaboratively with international partners to address these pressing challenges, it added in a statement.

In 2023, the EU provided €28.6 billion in public climate finance and mobilized an additional €7.2 billion from the private sector to help developing countries reduce greenhouse gas emissions and adapt to climate impacts.

Papua New Guinea partnership with the EU’s climate and environmental initiatives are marked by two key programs:

• The EU Forestry, Climate Change and Biodiversity (EU-FCCB) Programme, which supports sustainable natural resource management and Papua New Guinea’s transition to a carbon-neutral economy.
• The EU-STREIT Programme, which focuses on boosting rural economic development by enhancing returns from cocoa, vanilla, and fishery value chains.

The Government of Papua New Guinea (PNG), Hevehe Petroleum, and Twinza Oil have signed the Pasca Gas Agreement, marking the country’s first offshore petroleum project. This landmark deal promises significant economic and social benefits.

Historic Signing Ceremony

The signing ceremony, led by Governor General Sir Bob Dadae and attended by Prime Minister Hon. James Marape, senior ministers, and key stakeholders, took place on December 19, 2024, at the Government House in Port Moresby.

Prime Minister Marape hailed the agreement as a transformative milestone, emphasizing its potential to benefit landowners and the Gulf Province.

“This agreement secures better terms for PNG while fostering a stable environment for our project partners,” Marape said.

Swift Negotiations Yield Results

Negotiations were completed within six months after MRDC’s acquisition of an equity stake in the Pasca project. The agreement secures a 70% state take, one of the most favorable in PNG’s history. It includes:

• State Equity: 22.5% equity stake
• Taxes: 30% corporate tax and a 15% additional profits tax
• Levies: 2% royalty, 2% development levy, and 3% production levy

A Domestic Market Obligation (DMO) mandates 5% of production for local use at favorable prices. Twinza Oil will also deposit USD 20 million into the Bank of Papua New Guinea to stabilize foreign exchange reserves.

Focus on Local Participation

The Pasca Joint Venture involves MRDC, the Gulf Provincial Government, and other stakeholders. It targets 80% local workforce participation within five years and 25% involvement of locally owned businesses.

The agreement prioritizes national content, sustainable practices, and human rights, Minister for Petroleum Hon. Jimmy Maladina said, adding the project’s benefits will flow directly to the people, contributing to national development.

“This agreement reflects our commitment to ensuring PNG’s resources drive prosperity for our nation,” he said.

Phased Development

The project will be developed in two phases:

Phase 1: Focus on liquid petroleum production, with an estimated 135 million barrels of oil equivalent.

Phase 2: Transition to liquefied natural gas (LNG) production, with an estimated 115 million barrels of oil equivalent.

The Joint Venture Agreement will be finalized within 90 days, followed by securing the Petroleum Development License (PDL) and Final Investment Decision (FID).

Key Highlights

1. Efficient Negotiation: Collaboration among Hevehe Petroleum, MRDC, and Twinza Oil accelerated the process.
2. Government Revenue: PNG will receive 70% of the project’s value through taxes, royalties, and levies.
3. Equity Participation: Hevehe Petroleum holds a 50% interest, empowering landowners and provincial governments.
4. Safeguards: New measures ensure transparency and prevent license misuse.
5. Improved Returns: A revised wellhead value formula benefits PNG by limiting deductible expenses.

Benefits to Gulf Province

The Gulf Provincial Government holds 10% equity in Hevehe Petroleum and benefits from levies and royalties.

Governor Hon. Sir Christopher Haiveta stated, “The entire Gulf Province will benefit directly from this project. This is a testament to making things happen for our people.”

MRDC played a pivotal role in securing favorable terms, leveraging decades of experience to ensure equitable outcomes.

The Pasca project sets a benchmark for future offshore developments, empowering landowners and provincial governments to shape PNG’s resource future.

Prime Minister Marape concluded, “This milestone lays the foundation for sustainable development and inclusive growth in PNG’s resource sector.”

Papua New Guinea (PNG) faces significant challenges in addressing money laundering (ML) and asset recovery.

According to the Financial Action Task Force (FATF) Mutual Evaluation Report (MER) published in November 2024, the country lacks skilled personnel, institutional resources, and prioritization to tackle these issues effectively.

Consequently, PNG has until October 2025 to implement the FATF recommendations or risk being grey-listed, a designation that could harm its economy and international reputation.

Anti-Money Laundering Taskforce established

In response, the Independent Commission Against Corruption (ICAC) has collaborated with key government departments and the Bank of PNG to form the Anti-Money Laundering Joint Taskforce (AMLJTF).

The taskforce aims to enhance coordination and effectiveness in combating ML and recovering assets. The initiative, formalized during a signing ceremony on December 18, 2024, at the Stanley Hotel in Port Moresby, is a critical step in aligning PNG’s efforts with FATF’s global standards.

Money laundering poses a significant threat to PNG, exacerbated by corruption and transnational organized crime. The AMLJTF brings together government and private sector expertise to address these risks, improve compliance, and achieve meaningful outcomes by 2025.

Baulch’s Call for Action

At the signing ceremony, ICAC’s Deputy Commissioner of Operations, Daniel Baulch, emphasized the urgency of reinforcing PNG’s commitment to the AMLJTF. He warned that grey-listing would severely damage PNG’s economy, deter foreign investment, and tarnish its international standing.

Baulch outlined the taskforce’s objectives:

• Enhancing intelligence on ML risks
• Investigating financial crimes
• Recovering illicit assets
• Strengthening enforcement measures

Achieving these goals would bolster PNG’s reputation, attract investment, and create a transparent financial system, Baulch said.

He emphasized that the AMLJTF was established to create a coordinated and effective response to asset recovery and money laundering, pointing out that PNG is particularly exposed to financial crimes, and tackling these threats is essential for the country’s economic stability and national security. Their inter-agency collaboration ensures a comprehensive approach to combating money laundering, he said.

Customs Chief Urges Collaboration

David Towe, Chief Commissioner of PNG Customs Services, praised the establishment of the AMLJTF and stressed the need for inter-agency collaboration.

He highlighted the country’s vulnerability to grey-listing and the adverse effects on its economy, including restricted trade and higher transaction costs.

"We have the report from the FNCF, and we are at risk of being re-listed. Being re-listed is very bad for us, especially for the financial integrity of our country," Towe said.

"The impact of being re-listed is serious, and that calls for action," he added.

To address these challenges, Towe announced the formation of a dedicated Customs team to implement FATF recommendations.

"In public meetings, we tend to work in silos, and most times we don't get to deliver results. I want to encourage every one of us, the members of the FNCF and other law enforcement agencies, for us to work together on this," he said.

He urged other agencies to adopt a collaborative approach, citing past successes achieved through partnerships with public and private sector entities.

Implications of Grey-Listing

Failing to meet FATF standards could have severe repercussions for PNG, Baulch said:

1. Economic Impact: Reduced foreign investment, limited trade, and restricted access to global banking services.
2. Reputational Damage: Perceived as a high-risk financial destination, discouraging investors.
3. Pressure to Reform: Increased international oversight and demands for legislative changes.
4. Risk of Blacklisting: Non-compliance could lead to blacklisting, resulting in sanctions and exclusion from global financial systems.

Strengthening National Commitment

Baulch stressed the importance of complying with international anti-money laundering standards. He called for enhanced collaboration among regulatory and law enforcement agencies to ensure swift investigations and asset recovery.

“By working together through the AMLJTF, PNG can secure a prosperous and stable future for its people,” Baulch said.

He reaffirmed ICAC’s commitment to supporting the taskforce and urged all stakeholders to intensify their efforts against financial crimes.

AMLJTF Membership and Reporting

The following agencies have joined the AMLJTF:

• Independent Commission Against Corruption (ICAC)
• Financial Analysis and Supervision Unit (FASU) of the Bank of Papua New Guinea
• Papua New Guinea Customs Services
• Immigration & Citizenship Services Authority (ICSA)
• Investment Promotion Authority (IPA)
• Auditor General’s Office (AGO)

Additional agencies, including the Office of the Public Prosecutor (OPP), Royal Papua New Guinea Constabulary (RPNGC), Department of Justice and Attorney General (DJAG), and Internal Revenue Commission (IRC), will join in 2025.

The AMLJTF will report to the Asset Recovery and Money Laundering Operations Committee (ARMLOC), comprising RPNGC, FASU, OPP, and ICAC. ARMLOC’s mission includes coordinating intelligence, investigations, and prosecutions related to ML and asset recovery.

The committee will meet monthly and support the Strategic Implementation Plan (SIP) agreed upon by the National Coordinating Committee (NCC) and the Asia Pacific Group Secretariat.

The AMLJTF’s establishment marks PNG’s commitment to addressing money laundering and corruption. By fostering collaboration and adhering to FATF standards, the taskforce aims to safeguard PNG’s economic stability and global reputation.

“Let us work together to uphold the rule of law, enhance our global standing, and build a safer, more prosperous Papua New Guinea,” Baulch concluded.

As the year comes to an end, Papua New Guinea's Minister for Mining, Hon. Wake Goi, has expressed disappointment over unmet priorities in the mining sector for 2024.

Despite these challenges, the Minister assured stakeholders that his ministry is committed to achieving its goals by 2025.

In an exclusive interview with PNG Business News, Minister Goi apologized to investors for delays in the issuance of mining licenses. He assured that the backlog of applications would be addressed by January 6, 2025, when government business resumes.

“There is a significant workload ahead, but I am determined to ensure all licenses are reviewed and approved in a timely manner,” said the Minister.

Key Priorities for 2025:

Minister Goi reiterated his ministry’s focus on three critical areas:

1. Appointment of an MRA Board Chairman - A vital step towards ensuring good governance, the appointment of a Board Chairman for the Mineral Resources Authority (MRA) remains a top priority. Minister Goi emphasized that this role is critical for budget approvals and operational oversight.
2. Amendments to the Mining Act 1992 - The Minister highlighted the need for amendments to modernize the Mining Act. He acknowledged that while progress has been slow, consultation with industry experts and stakeholders would be paramount before introducing legislative changes to Parliament.
3. Modernization of the Mining Safety Act 1977 - Plans are underway to rename this legislation as the Mining Health and Safety Act, reflecting a stronger focus on employee welfare and environmental protection in mining regions.

Minister Goi reaffirmed his commitment to transparency in all mining dealings.

“All mining deals and licenses will be signed in Port Moresby, ensuring the benefits remain within PNG. Any business conducted outside the country does not reflect the interests of our people,” he stated.

The Minister also called on investors to respect PNG's laws and processes, urging them to stick to their approved licenses. He stressed the importance of collaboration between the government, the MRA, Department of Personnel Management (DPM), and investors to drive economic growth through a thriving mining sector.

Reflecting on his three months in office, Minister Goi cited a lack of collaboration and clear communication as key obstacles to achieving his 2024 objectives. However, he remains optimistic about tackling these challenges in the New Year.

“Collaboration is key to driving economic growth and development. We must move together at the required pace to meet our goals,” he said.

The Minister also acknowledged the need for strategic initiatives to attract exploration investments while ensuring sustainable resource management.

A Christmas Message from the Minister

Minister Goi extended his warm Christmas greetings to the people of PNG and all stakeholders in the mining industry.

“May this Christmas bring joy, peace, and hope to every family across our beautiful country. Let us reflect on the challenges we have faced and look forward to a brighter and more prosperous 2025. Together, through collaboration and determination, we can achieve great things. Merry Christmas and a Happy New Year!”

The Minister vowed to lead PNG’s mining sector into a productive and transformative year in 2025 with renewed focus and determination.

The Papua New Guinea Chamber of Resources and Energy (PNG CORE) is proud to announce its Highly Commended Recognition in the Best Use of Technology (500+ category) at the 2024 EventsAir Innovation Awards.

This year’s awards saw a record number of high-quality submissions, making the judging process highly competitive. Despite the strong field, PNG CORE stood out for its exceptional use of the EventsAir platform, which has greatly enhanced event management and engagement across its operations.

“We are grateful to receive this recognition,” said Mrs. Pansy Taueni-Sialis, Chief Operating Officer of PNG CORE.

“This award highlights our commitment to leveraging technology to connect stakeholders and in streamlining our operations. The events Air platform has been integral in delivering more efficient, engaging, and impactful events that drive growth and innovation in Papua New Guinea’s mining, oil and gas sectors.”

“The platform has played an enabling role in organizing and managing successful conferences, workshops, and seminars, enhancing communication, data management, and real-time engagement for more dynamic events.”

“We thank the Innovation Awards organizers, our dedicated team led by Manager Events Sheryl Peter, and partners who continue to drive our digital transformation,” Taueni-Sialis added.

“This recognition encourages us to keep adopting new technologies to strengthen the resources and energy sectors and contribute to the sustainable development of Papua New Guinea.”

“PNG CORE remains committed to advancing the industry and promoting innovation and collaboration in the nation’s resources and energy sectors.”

The governments of Australia and Papua New Guinea announced on December 12 a team-up with the Australian Rugby League Commission (ARLC) to strengthen ties through rugby league, a sport passionately embraced by both nations. 

Stressing its role as the primary security and development partner to Papua New Guinea, Australia pledged to support the establishment of a PNG team in the National Rugby League (NRL) by 2028, a move expected to deepen bilateral relations and promote economic and social development.

Australian Prime Minister Anthony Albanese described the initiative as transformative, adding: “A Papua New Guinea NRL team is a game-changer for Australia’s relationship with PNG and a unifying force – no two countries have a greater passion for rugby league.”

“Australia’s relationship with the Pacific is profoundly important, and our sporting ties are unique,” he added.

As PNG approaches its 50th anniversary of independence in 2025, Albanese said the partnership symbolizes “a shared history, mutual trust, and a future filled with economic and social opportunities.”

PNG Prime Minister James Marape emphasized the initiative's potential for national unity.

“This one team will be for one people, one country, one nation, a national unifier. We deeply appreciate our relationship with Australia. While government-to-government ties are important, at the heart and soul of this relationship must be people-to-people connections.”

“An NRL team for PNG is more than just sports – it is a national unification strategy. With our diverse cultures and people, rugby league can bring us together as one nation. At the same time, it strengthens the shared history and people-to-people links between PNG and Australia.”

The partnership will also deliver significant economic benefits through infrastructure investments and boosts to the sports and tourism sectors in both countries, Marape said.

The Australian government will also collaborate with the ARLC on a Pacific Rugby League Partnership to promote rugby league at all levels across PNG, Fiji, Samoa, and Tonga, offering pathways from grassroots participation to elite competition.

The program will focus on increasing school retention, improving health and nutrition, advancing gender equality, and fostering youth leadership. It will also prioritize developing girls’ and women’s rugby league, including plans for a future PNG women’s team in an Australian state competition.

Albanese stressed the broader social impact, saying: “Partnering on rugby league is a genuine and powerful way of building lasting ties between our peoples and ensuring long-term development, social and economic outcomes for PNG and the Pacific.”

“Our partnership will create new opportunities for girls’ and women’s rugby league across PNG and the Pacific, recognizing the power of sports programs in championing inclusion and improving gender equality.”

The deal builds on Australia’s existing sports development initiatives in the Pacific, which already include netball, rugby union, Aussie rules, and cricket. It complements broader development partnerships aimed at fostering peace, prosperity, and opportunity throughout the region, Albanese’s office said.

The Minister for International Trade and Investment, Hon. Richard Maru described his recent meeting with the full Board and Management of Mayur Resources at the margins of the Papua New Guinea (PNG) Investment Week in Sydney as “highly satisfactory”.

Minister Maru said: “The meeting allowed me to clarify to Mayur Resources a lot of issues that the State needs sorted out between Mayur Resources and the State Negotiating Team (SNT) before we can progress to finalizing a Term Sheet that we would like finalized before January 18, 2025. This is critical so we can proceed to have the State, Central Provincial Government, and the Mayur Resources work towards signing a Project Agreement for the development of the Central Cement and Limestone Project.”

Minister Maru made it very clear to Mayur Resources that the Government wants the cement and the limestone project to be one project and commenced concurrently.

Minister Maru further stated: “The Government wants the project to cater for equity participation by the State, the Central Provincial Government, the landowners, superfunds, and ordinary Papua New Guineans to invest in this project which is critical to build our nation.”

Minister Maru stressed that Mayur Resources should raise capital in our local market using an IPO.

“Under the Project Agreement, the Government expects a very significant reduction in the price of cement which will be produced from this project which we will use for our roads and buildings to help build our nation. As a country, we should not be importing limestone and cement because we have the resources right here. We should be a net exporter of limestone and cement to other countries. We will consider the project to be a pioneer industry and offer protection to the project for a period of up to 10 years if the cement processing plant is built next year so we can replace all cement imports,” said Minister Maru.

“I firmly agree with Mayur Resources that Mayur Resources and the SNT must now meet and work towards finalizing an agreed Term Sheet for the Government to consider on January 18, 2025, so we can work towards finally having a Project Agreement signed between the State and Mayur Resources before the end of March 2025,” added Minister Maru.

“I want to thank the Chairman of Mayur Resources, Mr. Richard Pegum and his Board and Management for our meeting, and my subsequent meeting with the SNT Chairman, Mr. Dairi Vele, and I look I look forward to receiving the Term Sheet on January 18, 2025,” said Minister Maru.

Minister Maru also made it known to Mayur Resources that the Government was also considering interest from other developers in developing similar projects in the country including a proposed limestone project in Finschhafen, Morobe Province and another one in Central Province.

A Santos Foundation program committed to changing attitudes towards family and sexual violence, and supporting survivors in Papua New Guinea, has won international recognition for its life-changing impact at the Platts Global Energy Awards in New York.

A Santos Foundation program committed to changing attitudes towards family and sexual violence, and supporting survivors in Papua New Guinea, has won international recognition for its life-changing impact at the Platts Global Energy Awards in New York.

Santos Managing Director and CEO Kevin Gallagher said the Santos Foundation’s mission is to invest in partnerships and local initiatives that help communities thrive, and build capacity and resilience in the communities it serves.

“The Bel isi PNG program is a shining example of the Santos Foundation’s mission and was established to address the very serious issue of family and sexual violence in Papua New Guinea and we are proud to see this work be recognised by the wider industry,” Mr Gallagher said.

“Santos and our Foundation invest US$10 million into PNG communities each year, focusing on health, youth opportunities, community development, and family and sexual violence.

“Santos has been a proud corporate citizen of PNG for around 40 years. We are committed to PNG, its economy, and above all, its people – for the long haul.

“PNG is a very important part of the Santos portfolio and includes the world-class PNG LNG project as well as large-scale upstream oil and gas resources and infrastructure.

“PNG is also an energy-producing nation for the giant energy-consuming economies of Asia. And of course, it is development of PNG resources that is underpinning the jobs, business opportunities, regional development and government revenues that are helping PNG build prosperity for its people over time.

“The Santos Foundation plays a very important role in supporting Santos’ operations in PNG, building stronger communities in the areas where we operate and making a major contribution to Santos’ purpose to provide reliable and affordable energy to help create a better world for everyone,” Mr Gallagher said.

The magnitude of family and sexual violence in Papua New Guinea is a serious challenge. Almost twothirds of women report having experienced some form of physical or sexual violence.

The Bel isi PNG program is a public-private partnership that aims to encourage the corporate sector, in collaboration with the government and civic society, to take a transformative role in changing attitudes towards family and sexual violence while also providing access to immediate care and support for survivors.

The initiative has supported more than 2,000 people in need from its commencement in 2018 to the end of 2023. More than 5,000 private sector employees have participated in education sessions about family and sexual violence.

Accepting the award on behalf of the Foundation and its partners, Santos Foundation PNG Head Jean Martin said Bel isi PNG is successful because of the collaboration of all its partners and Santos’ strong commitment to the program.

“Bel isi is a real passion project for many at the Santos Foundation, not only for the work it has taken to keep the model functioning but also for the many hundreds of lives it has now touched,” Ms Martin said.

“Every minute, a woman or child needs help for family violence, and I am proud that Santos continues to support a service that stands ready to respond.”

Santos Foundation CEO Jodie Hatherly said the program is delivered by a dedicated team who are committed to improving outcomes for those impacted by family and sexual violence.

“I thank everyone involved in the program for the hard work and dedication to providing such an important service. Being recognised at the prestigious Platts Global Energy Awards is an acknowledgement of the real difference both Santos and the Santos Foundation are making for women and children in PNG,” Ms Hatherly said.

Bel isi PNG’s partners include the Santos Foundation, the Australian Federal Government, Bank South Pacific (BSP), Steamships, Femili PNG, Business Coalition for Women (BCFW), security firm G4S and the National Capital District Commission.

Santos was also recognised as a finalist in the Energy Transition Award – Upstream category for our Integrated Production Model digital innovation. In collaboration with Xecta in 2023, Santos launched this advanced technology in South Australia’s Cooper Basin to optimise field surveillance and production by performing automated engineering calculations with real-time telemetry data.

The project was a departure from traditional methods, combining well-understood physics principles with advanced artificial intelligence and machine learning to create an industry-leading full-field integrated production model.

Ok Tedi Mining Limited (OTML) is on track to generate US$1.5 billion (K5.8 billion) in revenue for 2024. This is a significant increase from 2023 (31%), 2022 (45%) and 2021 (98%).

Managing Director & Chief Executive Officer, Kedi Ilimbit, announced the record revenue at the 2024 PNG Chamber of Resource & Energy Investment Week Conference in Sydney, Australia,

“This result is a testament to the hard work of our employees. Without them, we would not have achieved the success we see here today.”

“What is even more special is that we have a 98 percent national workforce that has delivered this result for us,” said Mr Ilimbit.

OTML intends to become a US$2 billion revenue company within the next five years. This outcome is dependent on the successful implementation of OTML’s Growth 2050 Strategy.

This includes;

• Ok Tedi Energy by 2025;
• New Joint Venture arrangements with OTML and expansion of Ok Tedi Power by 2028; and the
• Ok Tedi Underground Joint Venture arrangement by 2030.

“Whilst we are a nationally owned company, we want to drive our growth and expansion through international best practices and benchmark ourselves against the world industry standards,” said Mr Ilimbit.

“Ok Tedi is a great company, and the future looks promising for us and our shareholders.”

Ok Tedi Mining Limited is expected to generate K40 Billion in social benefits, taxes, royalties and dividends to its shareholders over the next 26 years.

Managing Director & Chief Executive Officer, Kedi Ilimbit, revealed this recently during his presentation at the 2024 PNG Chamber of Resource & Energy Investment Week Conference in Sydney, Australia.

Mr Ilimbit said this is a significant amount and the onus is on the shareholders of OTML who receive these benefits use them for the benefit of everybody.

“K40 billion is a lot of money. The challenge to our shareholders is how do we make use of these social benefits to improve the lives of our people,” said Mr Ilimbit.

The Company celebrated 40 years of production this year. Over the four decades OTML has produced:

• 5.4 million tonnes of copper;
• 16.4 million ounnces of gold;
• 38.1 million tonnes of silver;

These production figures have generated;

• K13.9 billion in Dividends;
• K872 million in Tax Credit Scheme Projects since 1997;
• K1.1 billion in Community Mine Continuation Agreement (CMCA) Payments;
• K1.7 billion in Compensation payments;
• K1,5 billion in Royalties; and
• K11.3 billion in Tax/Duties. These include;
  • K6 billion in Income Tax
  • K800 million in Dividend Withholding Tax;
  • K2 billion Salary & Wages Tax;
  • K354 million Mining Levy

In 2024 OTML was granted a 20 Year extension to its Special Mining Lease as well as the approval by the Board to extend mine life to 2050.

Mr Ilimbit revealed OTML’s 2050 Growth Strategy which includes several key undertakings to not only achieve life of mine (LOM) extension but remain profitable.
These key undertakings include:

• Environmental Stewardship and Sustainable Growth Projects
• Engineered Waste Rock Dump (EWRD) 1 & 2
• Electric drive Haul Truck Re-fleeting
• Processing Asset Renewal
• Pyrite Concentrate (PCon) Pit 4 Construction
• Tailings Storage Facility (TSF)\
• Electrification and Energy Transition Strategy
• Diesel & Jet A1 Storage & Supply
• New FIFO Village
• Kwalimu House
• Community Mine Continuation Agreement (CMCA) Extension Review
• Copper Mark Certification

“These are exciting times ahead for OTML and we are confident that we will deliver on the life of mine extension and generate revenue for our shareholders.

Santos has improved facility reliability of its assets to more than 97 per cent this year with production seeing record days, weeks and months.

This was announced recently by Sigurdur Jonsson, Santos Vice President for PNG Operations during the 2024 PNG Investment Week in Sydney.

“In our efforts to optimise maintenance strategies, we thoroughly examined all PNG maintenance approaches and drew upon Santos’ extensive experience. Subsequently, we successfully implemented a comprehensive new maintenance program for PNG which is consistent with our company operations excellence standard.

“I am proud to say that we improved even further from last year’s record reliability of 95 per cent to more than 97 per cent this year. This was done through vigilant focus on our engineering and maintenance programs as well as critically reviewing and prioritising the work executed at our facilities.

“This year alone we have accelerated 16 billion cubic feet of gas from the Santos operated fields to feed PNG LNG infrastructure before Angore was brought on by ExxonMobil PNG during this quarter. The Angore project ties in an additional TCF of gas to the PNG LNG infrastructure which will see the plant full,” said Jonsson.

Santos also concluded a 4 well infill program successfully without any HSE incidents. “We saw oil rates from our fields that we have not seen since 2021 despite operational challenges such as a landslip in the Moran area that saw us curtail production from there for a few months.

“Last year I stood here and talked about the criticality of delivering high facility reliability to provide feed gas to PNG LNG and to optimise our oil production. We were also in the midst of executing our 4 well infill program and looking at standing up our gas production at Hides to support the Porgera mine.

“I’m delighted to stand here today to say that we have delivered on these commitments.”

Prime Minister Hon. James Marape has recently (11.12.24) announced his government’s decision to partially privatise PNG Power Ltd amidst Government’s further decision to open up other parts of the country to independent power suppliers.

Prime Minister Marape told the PNG CORE Investment Week in Sydney that Cabinet has approved the decision in one of its final meetings this year the partial privatization of the State-owned enterprise to improve its operations and efficiency of power supply to Papua New Guinea.

The partial privatization means the State will continue to maintain its interest in PNGPL with the investor taking over management of the enterprise and equity - assets worth over K4 billion in the company.

This will be the second decision Cabinet has made on PNGPL, where an earlier decision was made to look at the company’s power generation, retail and distribution status.

The Prime Minister urged investors to keep an eye out for Expressions of Interest soon to be advertised, pointing out the advantage in PNG Power’s “first right to supply power” monopoly in Papua New Guinea.

“Power supply is a strategic asset and investment, and PNG Power has two important assets. It has asset that is K4 billion in total, and more importantly it has monopoly in first right of supplying power with its community service obli-gation that it still holds,” said the Prime Minister.

Prime Minister Marape said reforms in the energy sector have begun with the government ministry responsible ready to issue licenses to investors willing to partner his government to take power supply to parts of PNG that are out of reach of PNGPL, as up to 70 percent of the country still remains without elec-tricity supply.

The Prime Minister also highlighted Government’s long-term decision to move into clean, green energy in the next 20 years, while pointing out PNG’s numer-ous clean energy potential in hydro, thermal, wind and solar sources.

He urged investors to seriously consider this space and to look further down the line to selling power over the borders to Indonesia and Australia.

“We want to unlock power in our country by bringing cheaper reliable and cleaner power to our people at the earliest. We have more than enough sources of clean energy where hydro remains the biggest available source.

“I encourage investors to think big and take up these opportunities that are available in our country,” said PM Marape.

The internal revenue sup-porting Bougainville’s recurrent and development budgets is only at 7 percent and must be raised to over 50 percent to adequately support the Special Re-gion’s autonomous restructure aspirations.

Prime Minister Hon. James Marape revealed this recently (11.12.24) in Sydney dur-ing the PNG Investment Week as he asked for greater collaboration with inves-tors to boost Bougainville’s economy.

“Bougainville needs to be economically strong,” PM Marape said as he gave a rundown on the peace process, including the referendum of 2019 and cur-rent efforts by his government toward processing referendum results in the PNG Parliament.

“Any investors willing to take up residency in Bougainville, whether in partner-ship or individually, you are all most welcome. Waigani will not stand in the way.”

He said the PNG Government greatly welcomes investments in Bougainville as part of its efforts to empower Bougainville and the Autonomous Bougainville Government to manage its budget and economy.

“We must start with economic independence as the fundamental tool to grow Bougainville; that once it has the money, it can sustain any endeavour into the future.

“At the moment, Bougainville’s internal revenue is only 7 percent of the total recurrent and development budget. This is not sufficient for Bougainville to get up and get going. We need to raise this revenue at the earliest to about 50 percent.”

As part of the Marape-Rosso Government’s move to financially strengthen the autonomous region, Government is transferring all its shares held in Bougainville Copper Limited to the ABG, with Prime Minister Marape saying further that, under the revenue-sharing arrangements, he is considering Bougainville keeps all revenues raised in the mine.

“We are also looking into this model to economically empower them further. This will take time, but it starts with these sorts of engagements so I welcome any investors out there. Bougainville is open for business.”

As part of his advocacy for investments in Bougainville, the Prime Minister high-lighted the strength of the Bougainville people and the leading position the former province took in the country at that time.

“Before the crisis, Bougainville was the leading province in Papua New Guinea. Bougainvilleans are very resilient, innovative, and self-sustaining people. Bou-gainville’s strength was not just in Panguna mine; there were many other re-sources, including probably the biggest coconut plantation in the Southern Hemisphere.

“There is now a need for greater collaboration to resuscitate Bougainville’s economy and I welcome investors to his special region of ours,” said Prime Min-ister Marape.

The Government of Papua New Guinea, has initialed a landmark Gas Agreement with Twinza Oil Ltd, the operator of the Pasca offshore gas project. This transformative agreement paves the way for the development of Papua New Guinea’s first offshore petroleum project, located off the coast of Gulf Province. It will be submitted to the National Executive Council for approval next week before being presented to Government House for formal endorsement by the Governor-General and signing.

This Gas Agreement represents the Pangu Government’s unwavering commitment to ensuring that the wealth generated from Papua New Guinea’s natural resources benefits its people. The 70% state take achieved in this agreement -inclusive of taxes, royalities and equity participation - is a testament to the leadership of Prime Minister Marape and the tireless efforts of the State Negotiating Team (SNT) to secure the best possible outcomes for the nation.

The Pasca A Gas Project represents a significant step forward in Papua New Guinea’s energy ambitions, laying the foundation for future offshore resource developments. The project will initially produce natural gas liquids, including condensate and liquefied petroleum gas (LPG), while also establishing the groundwork for liquefied natural gas (LNG) exports.

Prime Minister Marape emphasised the importance of the initialing, stating:” This Gas Agreement is a testament to our commitment to securing the best outcomes for Papua New Guinea. With an unprecedented 70% state take, we are ensuring that the benefits of this resource are channeled directly to our people. This is not just a project—it’s a step toward economic sovereignty and a brighter future for all Papua New Guineans.”

Discovered in the 1960s, the Pasca field has undergone decades of extensive appraisal and preparation. Its development is projected to deliver over K500 million annually in revenues and create approximately 500 permanent jobs, with significant local benefits for Gulf Province.

Prime Minister Marape added: “The Pasca A Gas Project symbolises what Papua New Guinea can achieve when we prioritise unity and sustainability. As we approach our 50th anniversary of independence in 2025, this project reflects our nation’s resilience and potential. It is an example of how we can leverage our natural resources responsibly to uplift our people.

“The agreement underscores the government’s commitment to transparency and accountability. It will be submitted to the National Executive Council for approval next week before being presented to Government House for formal endorsement by the Governor-Genera and signing.”

Highlighting the project’s strategic importance, Prime Minister Marape stated: “This project isn’t just about energy production—it’s about positioning Papua New Guinea as a key player in the global energy market. The Pasca A Project will enhance our energy security, fulfill domestic market obligations, and create export opportunities, while opening the door to further exploration in the Gulf of Papua.

“In May 2024, the Mineral Resources Development Company Limited (MRDC) and Twinza formalised a partnership agreement regarding the Pasca A Gas Project. This collaboration allows MRDC to acquire up to a 50% participating interest in the project, while Twinza retains its role as the project operator. This partnership ensures greater local participation and guarantees that benefits flow directly to the people of Papua New Guinea.”

Prime Minister Marape concluded:” As the nation prepares to celebrate its golden jubilee, the Pasca A Gas Project stands as a beacon of progress, unity, and sustainability. It is a symbol of what Papua New Guinea can achieve through collaboration, innovation, and a shared commitment to national development.”

Papua New Guinea remains one of the world's premier destinations for mining investment, said the Minister for Mining, Hon. Wake Goi, during the recent PNG Investment Week in Sydney, Australia. 

Minister Goi stressed PNG's vast mining potential and highlighted the country's mining sector growth, future prospects, and investment opportunities to more than 2,000 delegates and potential investors.

Giving an overview of the mining sector, Goi said it is a mature and thriving sector, with roots stretching back to 1852.

“From the discovery of gold flakes in Motuan clay pots to the establishment of large-scale hard-rock mining operations like the Panguna mine in Bougainville, our nation has a rich mining heritage,” the minister said.

He noted that PNG hosts world-class giant mines, large-scale mines, and small-scale mines, along with several alluvial gold fields across the country.

Goi underlined the mining sector’s significance, which historically contributes over 80% of PNG’s total export revenue, citing impressive production figures from the past five years:

• Gold: 1.7 million ounces annually
• Silver: 2.4 million ounces annually
• Copper: 84,500 tons of concentrates annually
• Nickel and Cobalt: 33,500 tons and 3,000 tons respectively
• Chromite: 123,000 tons of concentrate

The sector generated an average annual export revenue of PGK13 billion over the past five years, he noted.

“PNG has established a strong reputation for mining safety, reducing fatalities from ten per year to an average of one, with zero fatalities recorded in 2017,” Goi added.

The minister also outlined several transformative mining projects:

1. Ok Tedi Mine Extension: The mine's lease has been extended for 20 years, potentially extending operations beyond 2040.
2. Porgera Mine Reopening: A 20-year special mining lease has been granted, with landowner compensation agreements nearly finalized. Compensation agreements with landowners and communities are in place, ensuring inclusive benefits and mutual prosperity. Goi also announced that New Pogera Limited has signed the Long Term Compensation Agreement with recognized Landowner Agents for 14 of its 15 tenements, which is in compliance with the Mining Act 1992. The CDA is ongoing and will soon conclude, he added.
3. Ramu Nickel-Cobalt Mine Expansion: A US$1.5 billion investment aims to double or triple output, supported by downstream processing feasibility studies.
4. Wafi-Golpu and Frieda River Projects: Two major copper-gold projects with combined investment potential exceeding US$11 billion are advancing toward permitting and development. As Prime Minister James Marape alluded to in his speech, Goi said the PNG government is paying careful attention to details to ensure they lock in an agreement that thoroughly underpins fair benefits of all stakeholders including, the investors, the State, Provincial Government, LLGs, and local landowners. Frieda River Project: A US$6 billion copper-gold project, with permitting anticipated hopefully by third quarter of 2025.
5. K92 Mine Expansion: The completion of Stage 2A has boosted gold production, with Stage 3 and 4 expansions aiming for 470,000 ounces annually by 2026.

Goi reiterated the mining sector’s anticipation for strong annual production of minerals.

“For copper, we anticipate averaging between 500,000 to 700,000 tons over the next 30 years once new projects commence. For gold, projected annual production may reach around 2.5 million ounces by 2026. For nickel and cobalt, there is potential to double or triple production, reaching up to 90,000 tons of nickel and 9,000 tons of cobalt per annum,” he added.

The minister invited global investors to see PNG's rich geological resources, stable governance, and supportive investment climate for themselves. Major mining companies like Newmont, Barrick, Zijin, Harmony, and Rio Tinto are already operating in PNG, alongside emerging players like K92 Mining Inc., he said.

To enhance the investment environment, the PNG government plans to revise its Mining Act, introducing international best practices, improved tenement management, downstream processing incentives, and equitable benefit-sharing models, Goi said.

The minister reaffirmed the government's dedication to ensuring that mining-driven economic growth benefits all Papua New Guineans.  

“I wish to acknowledge our investors who have made great efforts to foster growth in sustainable sectors like agriculture, building a resilient economic base. Mining in Papua New Guinea is not only about resource extraction; it's about building a legacy of sustainable development, innovation, and integrity.”

He encouraged industry leaders, government representatives, and community stakeholders to collaborate and maximize resource potential while upholding safety, environmental responsibility, and social development.

“Together, we can make PNG become a model for responsible mining on the global stage.” Goi said.

Prime Minister Hon. James Marape emphasised his government’s strategic focus on building a resilient, inclusive economy as Papua New Guinea approaches its 50th year of independence, as the highly anticipated PNG Investment Week Conference 2024 drew to a close at the Sydney International Convention Centre (ICC Sydney) on Dec. 11.

The event, organized by the PNG Chamber of Resources and Energy (PNG CORE), drew over 2,000 delegates from more than 20 participating countries. It showcases PNG's vast investment potential across key sectors including mining, energy, banking, forestry, fisheries, and tourism.

The Prime Minister led the cast of more than 90 speakers and over 80 exhibitors at PNG Investment Week. In his address, he highlighted transformative policies aimed at fostering sustainable economic growth, strengthening international partnerships, and enhancing local benefits from resource projects.

“The PNG Investment Week Conference is more than just an event; it is a declaration of our commitment to building a resilient and inclusive economy,” he said.

“We are taking bold steps to ensure Papua New Guineans reap greater rewards from major resource projects while advancing downstream processing of our vast resources.”

Marape outlined progress in PNG's resource sector, spotlighting key projects such as New Porgera Ltd, Ok Tedi, PNG LNG, and future ventures including Papua LNG, Wafi-Golpu, Pasca, and Wildebeest.

He acknowledged the contributions of global industry leaders like ExxonMobil, TOTAL, Santos, and Barrick Gold Corp., emphasizing the mutual benefits of strengthened business partnerships.

“Global giants recognize the vast potential of Papua New Guinea. This includes opportunities in both upstream and downstream processing that will further unlock our economic potential. PNG is open for business and poised for transformative growth,” he said.

The Prime Minister Marape stressed the need for a stable business environment and his government’s commitment to improving law and order, boosting infrastructure, and supporting tourism.

He announced significant budget allocations through the 2025 National Budget to strengthen these areas, ensuring PNG remains an attractive and secure destination for investors.

PNG Investment Week 2024 started on Dec. 6, featuring networking events, policy discussions, and sector-specific forums. Delegates gained valuable insights into PNG’s economic outlook, regulatory framework, and green energy strategies.

“This conference symbolizes progress and collaboration. It is a platform to strengthen ties with our partners and demonstrate to the world that PNG is ready for investment,” Marape said.

“Together, we can build a brighter future for all Papua New Guineans.”

Apart from the conference, the event included:

• PNG Investment Conference Golf Challenge
• PNG International Suppliers Forum
• Expo and Gala Dinner  

In an era where cyber threats are evolving at an unprecedented pace, one company has stood out in its unwavering commitment to securing businesses across Papua New Guinea and the Pacific Islands.

For over ten years, Sprint Networks has been at the forefront of designing and implementing secure data networks, earning the trust of prominent financial institutions and businesses in the region.

Leading the Charge in Cyber Threat Protection

Cyberattacks have become a global concern, affecting organisations of all sizes. Sprint Networks addresses this head-on by providing cyber threat protection on par with the security measures employed by major banks.

Their advanced intrusion detection and prevention systems are not just reactive, but proactively identify and neutralise threats before they can impact business operations.

"What's impressive about Sprint Networks is their utilisation of premium security products tailored specifically for the challenges in PNG," says a senior IT manager at a leading financial institution, who remains anonymous for security reasons.

"Their solutions are robust, and their expertise is evident in the seamless integration of these systems into our existing infrastructure."

Designing Secure Data Networks Trusted by Industry Leaders

At the heart of Sprint Networks' success is their dedication to crafting secure data networks that exceed industry standards. Their portfolio boasts collaborations with some of the most reputable banks and financial organisations in PNG and the Pacific Islands.

"Our trust in Sprint Networks is built on years of reliable service and innovative solutions," remarks the CIO of a major bank in the Pacific. "Their architecture and design have fortified our defences against cyber threats, and their ongoing support ensures we stay ahead of potential risks."

Overcoming Connectivity Challenges with Award-Winning SD-WAN Solutions

Connectivity in rural and remote areas of the Pacific has long been a challenge, often hindered by unreliable infrastructure and unfulfilled promises. Sprint Networks has flipped the script with their award-winning Software-Defined Wide Area Network (SD-WAN) solution.

Their SD-WAN technology is engineered to provide secure rural connectivity, ensuring businesses in even the most remote locations have access to reliable and secure network services.

Key Features of Sprint Networks' SD-WAN:

• Resilient Connectivity: Utilising multiple carriers and redundant links to guarantee uninterrupted service.
• Optimised Performance: Intelligent traffic management that reduces latency and enhances bandwidth efficiency.
• Integrated Security: Comprehensive protection across all network paths to safeguard data integrity.

"Sprint Networks didn't just offer us a solution; they provided a partnership," says a technical director at a regional enterprise. "Their SD-WAN has transformed our operations, enabling us to connect securely with our teams spread across various islands."

Embracing the Future with Secure Remote Work Solutions

The shift towards remote work has highlighted the need for secure access to corporate resources from anywhere. Sprint Networks leverages the Secure Access Service Edge (SASE) model to meet this demand.

Benefits of Sprint Networks' SASE Implementation:

• Unified Security and Networking: Streamlines management by integrating security and network functions into a single cloud-native service.
• Zero Trust Principles: Ensures every user and device is verified before granting access, significantly reducing security risks.
• Scalable Solutions: Adapts effortlessly to the changing needs of businesses, accommodating growth without extensive additional investments.
• Enhanced User Experience: Provides fast, reliable access to applications and data, crucial for remote productivity.

"The adoption of SASE through Sprint Networks has been a game-changer for us," notes an IT consultant working with businesses in PNG. "Their expertise made the transition smooth, and the security enhancements are both palpable and reassuring."

Comprehensive Managed IT Services

Beyond their cutting-edge products, Sprint Networks offers managed IT services that allow businesses to focus on their core competencies. Their team provides continuous support, maintenance, and optimisation, ensuring that IT infrastructures run smoothly and efficiently.

A Passionate Commitment to the Pacific

What sets Sprint Networks apart is not just their technical prowess but their genuine passion for serving the communities of PNG and the Pacific Islands. Their decade-long journey is marked by a commitment to empowering local businesses through secure and reliable technology solutions.

"Sprint Networks' dedication goes beyond business; it's about building lasting relationships and contributing to the growth of our region," reflects a long-time client, also asking he not be named for security reasons. "Their understanding of our unique challenges and their customised solutions have been invaluable."

Why Businesses Choose Sprint Networks

• Proven Expertise: A decade of experience serving the unique needs of PNG and the Pacific Islands.
• Trusted by Leaders: Endorsed by major financial institutions and enterprises for their reliable and secure network designs.
• Innovative Solutions: Pioneering the use of SD-WAN and SASE technologies in the region.
• Premium Products: Deployment of top-tier products specifically designed for the demands of the local environment.
• Customer-Centric Approach: A focus on building strong partnerships and delivering tailored solutions.

The Future of Cyber Security in the Pacific

As cyber threats continue to evolve, the need for robust security measures becomes ever more critical. Sprint Networks stands as a beacon of excellence, offering solutions that not only protect businesses but also enable them to thrive in a connected world.

For organisations in PNG and the Pacific Islands seeking a trusted partner in cyber security and network solutions, Sprint Networks represents a blend of technical expertise and heartfelt commitment to the region's prosperity.

For more information on Sprint Networks and their services, visit their website or contact their team of experts dedicated to securing the future of the Pacific.