Michael McWalter picks up his prior discussions of petroleum sector reform (Issue No. 3 2024) and describes in more detail exactly what a Production Sharing Contract, or what a PSC, is all about. In my commentary of PNG Business News, Issue 2, 2023 entitled: Petroleum Sector Reform for Papua New Guinea, I wrote about the need to apply better governan...

Commentary by: Michael McWalter Michael McWalter explains the important responsibility to care for the vast amount of petroleum data submitted to the Government by operating petroleum companies and for the need for the establishment of a National Petroleum Data Centre in Papua New Guinea to cater for the vast amount of information arising from petroleu...

Commentary by: Michael McWalter Michael McWalter explains the important responsibility to care for the vast amount of petroleum data submitted to the Government by operating petroleum companies and for the need for the establishment of a National Petroleum Data Centre in Papua New Guinea to cater for the vast amount of information arising from petroleu...

In Part I, we read about the signs of oil and gas throughout Papua New Guinea that enticed many oilmen to look for large oil and gas fields over many decades, and we read about the first commercial oil discovery at the Iagifu 2-X well and how the Kutubu field was successfully developed.  We now pick up the story where subsequent exploration wells found ma...

EDITOR’S NOTE: Michael McWalter, former Director, Petroleum Division and Adviser to the Government of Papua New Guinea, and erstwhile petroleum adviser to the Governments of Ghana, Liberia, Cambodia, Sao Tome, and South Sudan, comments on PNG’s oil and gas industry and changes to the petroleum regime made, muted, abandoned and planned. Optimising Benef...