Santos and Oil Search agree terms for merger

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The merger of two of the major players in Papua New Guinea’s oil and gas sector took a major step forward today, with Santos and Oil Search agreeing terms. The agreement, which is subject to approvals, would create one of the world’s top 20 oil and gas companies.

Papua New Guinea’s ‘public health emergency’ a continued challenge, says Oil Search MD

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Having emerged from the ‘most challenging’ year in its 92-year history, Oil Search Ltd is now facing an escalation of COVID-19 infections in Papua New Guinea. In spite of this, shareholders at its annual general meeting were told PNG’s largest company is ‘coming through the challenges well’.

In brief: PNG Tourism Promotion Authority reveals exit survey numbers and other business stories

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Papua New Guinea’s Tourism Promotion Authority reveals bleak outcome for 2020, Kumul Petroleum Holdings gets three petroleum retention licenses and new equity holders for PNG LNG. The business news in brief.

Oil Search’s MD talks about the next wave of gas projects in Papua New Guinea

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Oil Search is a key partner in the next wave of gas projects in Papua New Guinea but has faced a tough year. Business Advantage PNG speaks with Managing Director Dr Keiran Wulff on the company’s future in PNG and the rich potential of its gas reserves.

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 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.

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.

Fair share? Papua New Guinea’s move to production sharing in resource projects questioned

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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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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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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.