OilSearch Limited is PNG’s longest-established resources company, with an 80-year history of operations in the country. It currently operates all of PNG’s producing oil and gas fields and also has operations in Australia, Yemen and the United Arab Emirates.
Effectively replacing the regulatory roles previously undertaken by the Department of Mining, the Mineral Resources Authority (MRA) was established by an act of Parliament in 2005.
One of Papua New Guinea’s more colourful enterprises, Mainland Holdings, operates the world’s largest saltwater crocodile farm. But, as Business Advantage discovered on a recent visit to its Lae base, that is just one business unit in a rapidly-increasing portfolio.
It’s no surprise to discover that the Madang Resort Hotel is Papua New Guinea’s oldest because that explains how it came to secure such a spectacular location.
Papua New Guinea food producer Trukai Industries (‘trukai’ means ‘good food’ in tok pisin) achieved a notable breakthrough at the end of 2007 when it began exporting long-grain rice to drought-stricken Australia, in spite of the fact that PNG grows little rice of its own.
The skills crisis that Papua New Guinea is currently undergoing could pale into comparison over the next couple of decades if PNG’s escalating HIV/AIDS threat is not brought under control.
The Papua New Guinea Chamber of Mines and Petroleum is the peak industry body for the country’s resources sector.
With confidence restored in Papua New Guinea’s superannuation sector, POSF Ltd, one of PNG’s two major superannuation companies, is proactively engaged in nation-building.
Business Advantage visited Loloata Island Resort, a small diving resort outside Port Moresby and asked owner Richard Knight about the challenges of running a tourism operation in Papua New Guinea.
National Superannuation Fund, or NASFUND, is representative of the strong leadership now being shown by Papua New Guinea’s financial sector. It wasn’t always so, as the fund’s Chief Executive Officer Rod Mitchell tells Business Advantage.