Angore Project hugely beneficial for PNG, says Santos

Santos President Upstream Oil and Gas, Brett Darley, has said the Angore Development Project would be a significant plus for Papua New Guinea. Mr Darley made his comments at the Australia Business Forum in Brisbane as he announced the next tranche of backfill gas that will help maintain PNG LNG production. The first gas from the development is due in 2024. Santos’ capital expenditure share would be about US$135 million

Global rise in crude oil price puts Puma under foreign exchange pressure

According to Puma Energy country manager Hulala Tokome, the company is feeling growing pressure due to the rise in global crude oil prices. The higher prices have led to an increase in foreign exchange requirements as Puma imports more supplies into Papua New Guinea. Given that oil prices are likely to continue rising, Mr Tokome said his company would keep working with the Bank of Papua New Guinea and other

Building Procurement that Benefits PNG

It is readily accepted that prefabricated and modular building systems are better suited to Papua New Guinea than conventional modes of building.  This is especially so for remotely located resource sector projects such as camps, but also for housing developments and large civil infrastructure projects including hospitals, schools, and government offices.  There are several prefabricated and modular building providers in PNG, however they differ in the extent to which they

Santos says Angore Development will boost PNG economy

At the recent Australia PNG Business Forum in Brisbane, Brett Darley, the Santos President Upstream Oil and Gas, said the Angore Development project would help the gas sector and boost Papua New Guinea’s economy. The announcement of the next tranche of backfill gas to maintain Papua LNG production as well as the final investment decision for the Angore Development project have put Santos in a strong position. Mr Darley estimated

ANZ expects PNG economic growth from the second half of 2022 onward

The Australia New Zealand Bank (ANZ) has forecast a turnaround for Papua New Guinea’s economy starting in the latter half of 2022. The bank expects economic growth to pick up as due to business investment and upcoming resource projects. The turnaround will initially be driven by several gas projects. The most notable of these is Papua LNG, which will go into Front End Engineering Design, or FEED, in the middle

Santos highlights the company’s portfolio of growth projects

Kevin Gallagher, the managing director and chief executive officer of Santos, has highlighted his company’s portfolio of high-quality growth projects. He also talked about the current global energy situation and likely scenarios for the future. “We will be disciplined in taking further final investment decisions, ensuring that projects like Dorado, Pikka, Narrabri, Bayu-Undan CCS, Papua LNG, and others fit with our strategy and meet our commercial and economic hurdles. This

Kumul hosts ground-breaking ceremony for fabrication facility and academy

Kumul Petroleum Holdings Limited recently held a ground-breaking ceremony outside Port Moresby, near the LNG plant at Caution Bay. The event was for a new Steel, Mechanical, and Piping (SMP) module fabrication facility and also for a construction training academy. Wapu Sonk, the managing director of Kumul Petroleum, said his company was establishing a world-class SMP Module fabrication facility as part of preparations for the development of LNG and mining

Remote In Water Surveys for PNG

Melanesian marine services company, Pacific Towing (PacTow), has conducted In Water Surveys (IWS) in Papua New Guinea for more than 10 years. Certified by multiple international survey companies for the supply of IWS of ships and mobile offshore units in the oil and gas sector, PacTow has recently introduced a ‘live video feed’ component to their IWS service.  The majority of IWS’s performed by PacTow’s commercial dive team (also Melanesia’s

PNG won’t grow unless young people venture into business, says academic

Dr Lawrence Sause, the deputy executive dean of resources and planning at the University of Papua New Guinea School of Business and Public Policy, has said that PNG’s economy will not grow unless more people enter the business sector. “There is a waste of opportunity for young people to contribute through business,” Dr Sause said. He made the comments at a one-week entrepreneurial workshop aimed at encouraging students to think