US$10 billion Papua LNG agreement signed between Papua New Guinea government and developers

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The Papua New Guinea State has signed the gas agreement for the US$10 billion (K33.7 billion) Papua LNG project with Total, ExxonMobil and Oil Search. The project, which will double PNG’s gas production, represents the second-largest foreign direct investment ever in the country.

Date announced for Papua LNG gas agreement in Papua New Guinea

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Papua New Guinea’s Prime Minister Peter O’Neill has announced a date for the signing of the gas agreement for the US$13 billion Papua LNG project. Opening the PNG Petroleum and Energy Summit in Port Moresby yesterday, he also outlined some of the key elements the agreement will contain.

Papua New Guinea’s fiscal regime for resources projects ‘fair,’ says Santos GM

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Papua New Guinea has a ‘fair and reasonable’ fiscal regime for resources when compared with its neighbours Australia and Indonesia, according to John Chambers, General Manager PNG for Santos. He outlines three approaches used around the world to deliver benefits from projects.

In brief: Ramu NiCo announces K4.8b expansion plans, and other business news

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Ramu NiCo announces expansion, Kina Bank celebrates innovation award, and Frieda River Project Accord signed. A weekly digest of the latest business news.

In brief: A PPP venture mooted for Hela Province, and other business news

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A PPP agricultural venture mooted for Hela Province, first rice harvest from Morobe farm, and Rami Nicu leading the industry in red laterite development. Your weekly digest of the latest news.

Kumul Petroleum MD believes ‘step change’ needed to achieve electrification targets in Papua New Guiea

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The Managing Director of Kumul Petroleum Holdings (KPH), Wapu Sonk, believes a ‘step change’ is needed in the electrification of Papua New Guinea. He argues that some gas production should be reserved for domestic production.

Horizon Oil seeks assurance from Kumul Petroleum its Western Pipeline proposal is viable

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As Horizon Oil awaits government and regulatory approval for their mid-sized Western LNG project, CEO Brent Emmett says it is considering using Kumul Petroleum’s alternative pipeline proposal, but wants assurances the pipeline is viable before committing.

Oil Search share sale represents a win for Papua New Guinea, says analyst

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PNG Government-owned company Kumul Petroleum Holdings has sold its 10 per cent stake in Oil Search, with KPH Managing Director Wapu Sonk reportedly saying it lost A$322 million (K812 m) on the sale. However, stockmarket analyst David Lennox says overall the country has benefited from the process.

In brief: Tourism brings in only US$105 million in the first half of 2017, and other business stories

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Tourism brings in only US$105 million in the first half of 2017, Lae businesses downturn about 30 per cent, says business leader, and SP Hunters win. Your weekly digest of the latest business news.

In brief: BCL proposes re-opening Panguna copper mine by 2020, and other business stories

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BCL talks with Bougainville government and landowners about re-opening Panguna, investors confident in PNG despite low global energy prices, and improvements on the way for Jacksons Airport. Your weekly digest of the latest business news.