State-owned oil and gas company Kumul Petroleum has been gradually acquiring licences to some of Papua New Guinea’s smaller and ‘stranded’ gas assets. Managing Director Wapu Sonk explains the strategy behind the move to Business Advantage PNG.
Mining & Energy
Papua New Guinea is planning to move to a production sharing regime for petroleum and gas by the middle of the decade. Business Advantage PNG caught up with Minister for Petroleum Kerenga Kua, to better understand why the reforms are happening, and what industry can expect.
With a ten-year extension to its mining lease secured, K92 Mining is moving to the next phase of its project to transform the Kainantu mine. Business Advantage PNG spoke with CEO John Lewins about the vision to create a world-class gold mine.
Newcrest Mining has approved a A$280 million (K696 million) expansion of its Lihir mine, following board endorsement of its Phase 14A feasibility study. The decision is set to deliver higher gold production and may extend mine-life.
Opening the 16th Papua New Guinea Mining and Petroleum Investment Conference in Sydney, Prime Minister James Marape has warned investors that changes are coming to Papua New Guinea’s resources regime.
Next month’s 16th Papua New Guinea Mining and Petroleum Investment Conference in Sydney (5 to 7 December) will mark the event’s return for the first time since the COVID-19 pandemic. Business Advantage PNG previews what to expect.
More details have been revealed about the planned TotalEnergies-led Papua LNG gas project and how businesses can get involved.
State-owned Kumul Petroleum has made an offer to purchase a further five per cent of the PNG LNG project from Santos. The US$1.4 billion move looks set to position it to play a greater role in the future of Papua New Guinea’s oil and gas sector with global LNG demand increasing.
If its two mining ‘mega projects’ – Wafi-Golpu and Frieda River – are delivered on schedule, Papua New Guinea will become one of the world’s major copper producers over the next thirty years, according to Jerry Garry, Managing Director of the country’s Mineral Resources Authority. However, he warns, PNG’s dependence on mining exports looks set to come to an end shortly thereafter.
The progress of Papua New Guinea’s next major gas project, Papua LNG, appears on schedule as operator TotalEnergies announces the project is entering its front end engineering and design (FEED) stage. The company is promoting the project’s low carbon credentials.