Australian telecommunications giant Telstra has been in negotiations to buy Digicel, Papua New Guinea’s largest telco. Meanwhile, gas company Santos has been pursuing PNG’s largest company, Oil Search. Why is PNG seeing such mergers and acquisitions activity, and are more likely?
The Papua New Guinea Government and Twinza Oil have concluded negotiations on terms for Pasca A, PNG’s first offshore gas project. While the terms are subject to approval by PNG’s National Executive Council, a signed gas agreement is expected as soon as the end of this month.
Australian miner Geopacific Resources has secured funding to develop the gold mine on Papua New Guinea’s Woodlark Island in Papua New Guinea’s Milne Bay Province. Business Advantage PNG spoke exclusively to Chairman Ian Clyne and CEO Tim Richards about their expectations for the project.
Diversified landowner company Anitua is on the comeback trail, according to Chief Executive Patrick Doekes. He tells Business Advantage PNG the Papua New Guinean landowner company is looking to streamline operations and expand its product offerings.
The Ramu nickel mine in Papua New Guinea’s Madang province had strong first quarter production, according to Nickel 28, the junior partner in the joint venture.
Kumul Petroleum has announced that the PNG government has negotiated an additional seven per cent equity with future joint venture projects with Total after ‘remobilisation talks’ regarding the Papua LNG project in Paris last week.
There are signs of a renewed effort to push ahead on the Total-led Papua LNG project after successful meetings between the company’s CEO and a senior government delegation.
Having emerged from the ‘most challenging’ year in its 92-year history, Oil Search Ltd is now facing an escalation of COVID-19 infections in Papua New Guinea. In spite of this, shareholders at its annual general meeting were told PNG’s largest company is ‘coming through the challenges well’.
The anticipated signing of a gas agreement for Pasca A, Papua New Guinea’s first undersea gas project, has stalled at the eleventh hour. Developer Twinza Oil says it will stand down its project team due to a last-minute State request it claims would render the project ‘unfinanceable’.
Puma Energy is Papua New Guinea’s largest fuel importer and operates the country’s only oil refinery. In this exclusive interview, Puma’s PNG Country Manager Hulala Tokome reveals how it is changing its business model in PNG.