• PNG Business News

Firms invited to apply for exploration licences

Prime Minister James Marape is inviting more companies to apply for exploration licences in the country.

The Prime Minister announced that PNG’s economy in the next decade will triple, and invited companies to partake in that predicted growth.

Marape mentioned that the government was looking forward to creating a substantial reform for the sector to better the transparency between the government and the sector, and the reform will provide a fair and equal opportunity for the government and the investors to have a say.

“We are looking to restructure our own departments and hopefully, our Petroleum Minister and Mining Minister on the work that they are doing,” the PM said.

“We want to attract more exploration, investments, massive exports, and the first opportunity will certainly be given to you to ensure you convert your exploration into an actual construction of the resources; you benefit and we all can benefit in the process.

“We encourage general investors to look deeply into our country and ensure that the pockets of our country, if not yet full, pick up an exploration licence.”

Marape says he is looking forward to 2020 and how PNG can double its development in the sector.

Source: http://www.looppng.com/business/firms-invited-apply-exploration-licences-88734

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