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.
Fair share? Papua New Guinea’s move to production sharing in resource projects questioned
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14 Sep 2020 by Leave a Comment
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.
Split decision: Papua New Guinea government will not consider Papua PNG and P’nyang together
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9 Sep 2020 by 11 Comments
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.
In brief: Papua New Guinea and Australia sign economic partnership agreement and other business stories
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10 Aug 2020 by Leave a Comment
Papua New Guinea and Australia sign economic partnership agreement, seafood venture for New Ireland, and K200 million for SMEs still on its way. The business news you need to kickstart your week.
Oil change: Marape to alter Papua New Guinea’s oil and gas legislation
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15 Jun 2020 by 8 Comments
Prime Minister James Marape has introduced changes to Papua New Guinea’s oil and gas law, claiming it will benefit the country’s ‘national interest’. The changes may well represent a major shift in the way projects are developed in the future.
Oil Search capital raising: is stake in PNG LNG project up for sale?
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8 Apr 2020 by 6 Comments
Papua New Guinea’s largest company, Oil Search, is proposing to raise US$700 million (K2.4 billion) to strengthen its balance sheet in response to declining oil prices. The company’s stake in the PNG LNG project may also eventually be on the table.
Blast from the past: Papua New Guinea’s economy in 2020
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6 Mar 2020 by Leave a Comment
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.
Oil Search’s Peter Botten: the exit interview
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4 Mar 2020 by Leave a Comment
The departing Oil Search Managing Director tells Business Advantage PNG he remains positive about Papua New Guinea’s economic future, saying that LNG investment can help fund a stronger, more diversified economy. And he has some parting advice.
LNG’s role in Papua New Guinea’s foreign exchange challenges
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17 Feb 2020 by Leave a Comment
The lack of foreign exchange is having a deep impact on Papua New Guinea’s financial system. A new World Bank report shows that mining is the biggest generator of foreign exchange in PNG, but what about LNG projects?
Will Papua New Guinea slip to the back of the LNG queue?
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12 Feb 2020 by Leave a Comment
The suspension, at least for now, of negotiations over the P’nyang LNG project, has raised issues about the investment environment in Papua New Guinea and the issue of risk, according to analysts.
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