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.
Kumul Petroleum moves to increase Papua New Guinea’s stake in PNG LNG project
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Papua New Guinea’s LNG roadmap clearer following signature of P’nyang gas agreement
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With a gas agreement finally executed for the US$10 billion ExxonMobil-led P’nyang gas project, and a start date provided for front end engineering and design for TotalEnergies’ Papua LNG project, Papua New Guinea’s energy sector now has a clear roadmap for the rest of the decade.
The P’nyang effect: Fitch downgrades Papua New Guinea’s LNG export projections
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The delaying of negotiations over ExxonMobil’s proposed plan to develop the P’nyang gas field has led analyst Fitch Solutions to downgrade Papua New Guinea’s LNG export projections.
Total SA and Papua New Guinea sign key agreement for Papua LNG to move forward
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The long-awaited signing of the Fiscal Stability Agreement between the Papua New Guinea government and Total SA has been announced. It opens to the way for the project to go forward.
Total expected ‘shortly’ in Papua New Guinea to advance Papua LNG, says Kumul Petroleum MD
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The signing of a fiscal stability agreement between Papua New Guinea and French oil major Total looks set to trigger the FEED phase of the multi-billion dollar Papua LNG project. Wapu Sonk, Managing Director of national oil company Kumul Petroleum, tells Business Advantage PNG the signing is expected within the next two weeks.
People moves: ExxonMobil, NDB, NBPOL, Twinza, Minister for Foreign Affairs, Pacific Community, Capital Insurance Group, Papua New Guinea Cocoa Board, Kumul Telikom Holdings
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ExxonMobil announces executive changes, the National Development Bank names a new Chief Financial Officer, New Britain Palm Oil appoints new boss, Lae gets a new Consul-General, Pacific Community welcomes a Deputy Director-General Operations and Integration, Capital Insurance Group names Chief Operating Officer, new head for Papua New Guinea Cocoa Board and announcement at Kumul Telikom Holdings.
Oil Search tightens the purse strings and focuses on Papua LNG
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Oil Search has announced in a recent strategy update that it will continue to reduce costs and pull back on exploration. However, the company says it intends to make the Papua LNG project a priority.
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