• PNG Business News

Tewae-Siassi Invests In Oil And Gas Prospects: Dr Bomareo

A oil and gas prospect in the Cromwell mountain of Sialum local level government Tewae- Siassi district might be the next billion kina project for Morobe Province. This project is expected to open doors for international investments including developments and services for the district, province and country if the outcome of the feasibility studies is positive.

Tewae-Siassi MP Dr Kobby Bomareo during the official launching of the oil and gas project in Gitukea village ward-4 of Sialum LLG, committed K100,000 to conduct feasibility studies. Dr Bomareo said the funding will cover various stages of the feasibility study and required full cooperation of his people during this stage.

He also committed another K300,000 for staff housing maintenance and renovation of government buildings in Sialum and another K200,000 for new district and vehicles to boost operations in the district and LLG. Dr Bomareo told the Post-Courier that so far areas of Ward 4 to 15 in Sialum LLG within the Cromwell Mountain linking Kabwum district are believed to have oil and gas shifts and require more in-depth studies.

He said the study will determine the viability, foundation, lifespan, and size of the natural resources and ensuring a project is legally and technically feasible as well as economically justifiable.

“I have to clear the doubts in the minds of my people on the rumors after years of speculation for project development purposes and studies will determine the outcome,” he said. “I am assuring all local communities within the area to allow and follow normal procedures from the government and not to take sides or go into illegal contracts with super paper consultants.”

Dr Bomareo said the government is committed and reports of the project will be presented during the mining and petroleum convention to be held in December in Port Moresby. He said the discovery of these resources are a blessing for the people and must be used to benefit everyone.

Kate District president Rev Jonati Metu of Evangelical Lutheran Church said oil has been appearing in villages of Kinalaknga, Gitukea and Wetnga and locals have been taking samples into the villages.

Continue reading at https://postcourier.com.pg/tewae-siassi-invests-in-oil-and-gas-prospects-dr-bomareo/ | Post Courier

PNG Business News

2nd Floor, Suite 6,

Corinthian Plaza Building,

Paseo De Roxas, Legaspi Village,

Makati, Philippines

Phone: +632 251 5599

Subscribe to Our Newsletter

  • White Facebook Icon

© PNG Business News