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Marape Says Three Multi-Billion Projects to be Signed in Coming Weeks

Prime Minister James Marape said that three multi-billion projects are expected to be signed in the next few weeks, giving his thanks to the investors of these projects: the US$5.4 billion (K18.49 billion) Wafi-Golpu copper and gold project, US$13 billion (K44.5 billion) Papua LNG project and the US$525 million (K1.7 billion) Pasca-offshore oil and gas project.

The final instrument for the LNG Project will be signed next week, he said,

“TOTAL (have indicated) that next week we’ll sign the last instruments that need to be cleared, at Government House,” he said. “The managing director based in Singapore will come. We have given the necessary permit for Wafi-Golpu to get off the ground. For Pasca, we hope to sign the agreement soon.”

He added, “I want to thank the investors of these projects for their patience,” he said. “We expect that in a month or so, full maturity of these projects would be seen as far as projects agreements are concerned. If everything goes to plan, Porgera should start in the first half of this year.”

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