Santos is pleased to announce that it has listed on the official list of the PNGX, Papua New Guinea’s National Stock Exchange, following approval by the Board of PNGX of Santos’ listing application as an exempt foreign entity. The listing of Santos’ shares on PNGX relates to Santos’ merger with Oil Search Limited (Oil Search) which became effective on ...

Santos is pleased to announce that the merger with Oil Search is now effective following the approvals by Oil Search shareholders and the National Court of Papua New Guinea. Oil Search shareholders will receive 0.6275 new Santos shares for each Oil Search share held on the record date of 14 December 2021. Santos Chairman Keith Spence said: “The merg...

The third Papua New Guinea-Australia Annual Leaders' Dialogue was conducted virtually on December 8, 2021, between Prime Minister Scott Morrison and Prime Minister James Marape. The two Prime Ministers recognized the fundamental importance of the bilateral relationship between Australia and Papua New Guinea, as well as our shared interests in a safe, s...

Ok Tedi Mining Limited Chair Dr. Roger Higgins Ok Tedi Mining Limited (OTML) recently announced the appointment of three new directors by its majority shareholder the Kumul Minerals Ok Tedi Ltd (KMOTL) which owns 67% of the Company. Joining the OTML Board are Ms Nellie James who serves as Chair of Kumul Minerals Holdings Limited (the parent company ...

Photo credit: Australian High Commission by Stephen Howes When the COVID-19 pandemic hit, the Australian government reversed its earlier policy of cutting aid, and started to increase it. Aid increased from 2019/20 (before the pandemic) from $4.29 billion to $4.56 billion in 2020/21 (the first year of the pandemic). (All amounts are adjusted for inf...

CEFI Executive Director Saliya Ranasinghe (3rd from left), Bank of PNG Assistant Governor Ellison Pidik (4th left) and AOR / Development Assistance Specialist, USAID Julie Hulama and Maurice Knight (Cardno LGP Chief of party) with the signed financial inclusion partnership documents. The Lukautim Graun Program (LGP) — funded by the United States Agency...

Photo credit: K92 Mining K92 Mining Inc. is pleased to announce results from the ongoing underground diamond drilling of the Kora deposit at the Kainantu gold mine in Papua New Guinea. The results for the latest 50 diamond drill holes completed from underground into the Kora deposit are summarized in Table 1 below. The results continue to demonstrat...

During his official visit to West Sepik, James Marape inaugurated a number of impact initiatives. PM Marape described his visit as a watershed moment, not only for the official opening of the new West Sepik Provincial Administration Building but also for the announcement of other significant projects. “I want to acknowledge the leadership of the Gov...

By the year 2030, Papua New Guineans could anticipate decent healthcare services "within an hour's reach" across the country, according to Prime Minister Hon. According to James Marape. As he summarized the National Health Plan 2021– 2030 before unveiling it in Port Moresby, the Prime Minister gave this command to the Department of Health, namely the H...

According to Prime Minister James Marape, the multi-billion kina Porgera mine will reopen in April of next year. He said that Papua LNG, P'Nyang, and Wafi-Golpu, the country's three main significant resource projects, were "on track." The government also aims to "finish off" the Pasca A oil and gas project. “For Porgera, work to restart (the mine...

According to Twinza chairman Stephen Quantrill, the Pasca A oil and gas project in the Gulf is estimated to bring in about K8.6 billion in direct revenue to the government throughout the project's lifetime. A total of K500 million in tax and royalties is projected to be paid in a year, according to Quantrill, who spoke at the 2021 Mining and Petroleum ...

According to the company, Santos Ltd may pursue listing on the PNG National Stock Exchange (PNGX). Santos Managing Director and Chief Executive Officer Kavin Gallagher said the business was exploring it as the merger with Oil Search developed. “Momentum continues to build for the compelling opportunity to create a company with the size and the skill...

Photo credit: Oil Search According to ExxonMobil PNG Ltd, the PNG LNG project has earned K11 billion in revenue for the government thus far. This was announced by managing director Peter Larden at the recent PNG Mining and Petroleum conference. “Up to October this year, PNG LNG has generated K11 billion in revenue to the State and landowners, whi...

Prime Minister James Marape has been told that Papua New Guinea has "the potential to become a large supplier of green products for the globe," with 19 gigawatts of electricity already estimated from the Purari, Kikori, and Strickland hydro potentials, as well as the West New Britain geothermal projects. Julie Suttleworth, the CEO of green energy produ...

These recently graduated ‘Officers of the Watch’ represent 10 of the 26 young PNG women having their careers fast tracked by Pacific Towing and the Women in Maritime program. Ten young PNG women graduated as ‘Officers of the Watch’ last week.  The women, who were all cadets at Pacific Towing (PacTow), represented the first intake of scholarship awardee...

Photo credit: Share GK - Flickr The Asian Development Bank (ADB) has welcomed the publication of the Kumul Consolidated Holdings Authorisation (Amendment) Act 2021 in Papua New Guinea’s (PNG) National Gazette, a key step in efforts to reform governance, increase transparency, and improve the performance of the country’s state-owned enterprises (SOEs). ...

Senator Zed Seselja, Australia's minister for international development and the Pacific, said the Australian government will continue to engage with Papua New Guinea to reopen borders and normalize commerce and trade. Seselja addressed the 2021 PNG Mining and Petroleum Conference and Exhibition yesterday that the government has received about AU$340 mi...

The mining and petroleum industries' continued drop in exploratory activity is a source of concern for the industry. Exploration activity has been declining and falling since 2019, with no obvious signs of recovery, although the sector remains confident that this will soon reverse. In his opening remarks at the 2021 Mining and Petroleum Conference y...

Over the next few years, OK Tedi Mining Limited expects to witness a gradual growth in dividends of up to K1 billion each year. Musje Werror, managing director and chief executive officer, spoke at the PNG Mining and Petroleum Conference and Exhibition in 2021. Mr Werror stated that OTML's 2021 Strategic Business Plan affirmed a US$475 million incre...

The Oil and Gas (P'nyang LNG Project) (Amendment) Bill 2021 was just enacted by Parliament. The development partners in the P'nyang LNG Project will now be able to submit for an application and a petroleum development license as a result of this adjustment. When introducing the bill in Parliament, Minister for Petroleum KerengaKua stated that the pu...

According to country manager Hulala Tokome, Puma Energy PNG Ltd's Napa Napa refinery is in danger of closing by the end of this month. Tokome explained that the planned customs levy on imported refined gasoline products would be the cause of this. The proposed adjustments include a 5-toea tax cut for refined diesel and petrol, which the government c...

Papua New Guinea, according to James Marape, has never been an "uncertain area to invest." In Port Moresby, he said this while speaking digitally at the 2021 PNG Mining and Petroleum Conference & Exhibition in Brisbane. “We are an oil, gas and mining nation,” the Prime Minister said. “This is evident in the fact that quite a substantial part ...

According to James Marape, the 2022 Budget puts a greater emphasis on the health sector than ever before. He mentioned this during the opening of the K500 million, 300-bed Central Provincial Hospital for Central and Papua New Guineans in Bautama, Central. Roads, housing, power, and other infrastructure in the new Central City at Bautama, which is ad...

Photo credit: PM James Marape News Page - National Planning and Monitoring Minister Hon. Rainbo Paita in traditional dress during Budget debate. The K22 billion 2022 Budget, which was passed without opposition by Parliament recently, has been dubbed a "milestone budget" by James Marape. “This is a milestone budget because it is the first budget-prop...