Santos and Oil Search potential merger advances, Twinza Oil wants Pandora gas fields license announced before the Pasca A agreement, and funding for Pacific fisheries. PNG business news in brief.
Santos
The merger of two of the major players in Papua New Guinea’s oil and gas sector has taken a major step forward, with Santos and Oil Search agreeing terms. What would it mean for PNG?
Australian telecommunications giant Telstra has been in negotiations to buy Digicel, Papua New Guinea’s largest telco. Meanwhile, gas company Santos has been pursuing PNG’s largest company, Oil Search. Why is PNG seeing such mergers and acquisitions activity, and are more likely?
Papua New Guinea’s Prime Minister James Marape has confirmed draft changes to the country’s regulatory and fiscal regimes for PNG’s mining and petroleum sector will be circulated soon. But he has also reassured the sector that the changes, flagged for implementation in 2025, would be made ‘in consultation’.
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.
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.
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.
Analysts have contrasting views on the effect of the oil price war between Russia and Saudi Arabia on long-term oil and gas projects in Papua New Guinea. David James considers these, and the likely impact on domestic petrol and diesel prices.
ExxonMobil and the government-appointed State Negotiating Team have until the end of January to negotiate an agreement for the P’nyang gas project, says Minister for Petroleum.