Papua New Guinea’s Prime Minister James Marape has announced the end of negotiations with ExxonMobil over the P’nyang gas agreement. The project’s developers have responded to his claims that there was ‘an unwillingness to agree to reasonable terms’.
As talks between ExxonMobil and Papua New Guinea’s State Negotiating Team over the P’nyang gas project reach their nominated ‘walk away’ deadline today, the Prime Minister, James Marape, has said he is confident that LNG will help underpin economic growth in the country for the next decade.
ExxonMobil and the government-appointed State Negotiating Team have until the end of January to negotiate an agreement for the P’nyang gas project, says Minister for Petroleum.
Although the extractive sector continues to be responsible for the bulk of Papua New Guinea’s exports, the latest Papua New Guinea Extractive Industries Transparency Initiative report has found that revenues to government remain comparatively small. Here’s what you need to know.
St Barbara will invest A$8–$12 million (K19–28 million) on exploration activities in Papua New Guinea this financial year with the aim of extending its Simberi gold mine beyond its current mine life.
As Papua New Guinea awaits the outcome of ongoing negotiations over the P’nyang gas field, Peter Botten, CEO of PNG’s largest company, Oil Search, has hinted that time may be running out to reach an agreement.
With a soaring share price, production upgrades and strong cash flows, K92 Mining is proving to be one of Papua New Guinea’s resource success stories. Chief Executive Officer John Lewins outlines the company’s aggressive expansion plans to Business Advantage PNG.
Papua New Guinea is set to introduce new rules for petroleum licenses, according to Kumul Petroleum Holdings Limited Managing Director, Wapu Sonk. In this exclusive interview, he tells Business Advantage PNG the state-owned oil and gas company is about to undergo a transformational change.
Developing alluvial mining in Papua New Guinea can greatly boost the rural economies, according to Immaculate Javia, founder of Sustainable Alluvial Mining Services.
The changes to the Mining Act being considered by the Marape government could benefit the industry, according to John Lewins, Chief Executive Officer of K92 Mining Inc. In this exclusive interview with Business Advantage PNG he explains why.