Gaps In Oil And Gas Act
There are some gaps in the Oil and Gas Act, says Twinza Oil and Gas project development manager Erik Kowa.
Mr Kowa said this at the recently held Mining and Petroleum conference in Port Moresby. He said the current Oil and Gas Act is great, however, there are some gaps in there that could be improved.
“Stakeholders of the chamber, we can raise this to work with the government to look at how we can cater for the future. “It’s been peaceful over the years, but as time goes on we need to be involved in some of those legislatives to facilitate change,” he said.
Mr Kowa said one of the challenges the gaps has created is time component. He said the time component from concept select to FID is not very prescriptive or guided in the Oil and Gas Act and when that does happen, it leaves out a lot of things to discretion.
“We are excited to be the pioneer in Pasca A but it will require government support, an active chamber to create space for interested players to come in and make that possible,” he said.
Mr Kowa said they are also ensuring that they are following the government’s call in ensuring that they serve the best interest of PNG by looking at domestic market obligation (DMO) for Liquefied Petroleum gas (LPG) for the domestic market, local content and third party access.
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