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.
Supreme Court to make ruling, Telikom PNG cuts fixed-line call services, and a Total delegation readies to talk Papua LNG. The business news you need to kickstart your week.
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.
Parliament passed six key pieces of legislation that allow the Papua LNG project to move forward, Australia’s Prime Minister cancels his trip to Papua New Guinea and cocoa farmers in East Sepik Province ready to benefit from new project. The business news you need to kickstart your week.
The Papua New Guinea government’s proposal to move to production sharing agreements in resource projects may not solve the government’s financial problems and there is a risk it will harm the country’s reputation for being a good place to invest, according to the industry itself.
Papua New Guinea’s Prime Minister, James Marape, has insisted that the country’s proposed LNG projects, Papua LNG and P’nyang, will be dealt with as separate projects.
Papua New Guinea is making changes to its approach to oil and gas projects, suggesting the country gets a worse share of revenues than other comparable nations. John Chambers, General Manager of Santos, considers some of the options used internationally.
The year 2020 looks like being a watershed year for Papua New Guinea, with a number of transformative projects awaiting the green light and a new government seeking to implement an ambitious agenda.
What is likely to happen with the P’nyang gas project? Resources analysts say that it is cost competitive in world terms, and examine some of the options that the players have.
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.