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Oil and gas success report in PNG pleasing: Alkan

Staff Reporter | 8:30 PM | |
THE Papua New Guiena Department of Petroleum and Energy has been commended for highlighting the huge volume of liquefied natural gas reserves in the country.
Head of the PNG Extractive Industry Transparency Initiative (PNGEITI) secretariat Lucas Alkan was responding to a statement by acting department Secretary Kepsey Puiye on the PNG LNG’s potential to expand as indicated by “overwhelming evidence”.
Oil Search Kumul Petroleum Holdings had also highlighted the oil and gas reserve in the country.
Puiye said there was a possibility of a third new LNG. The second, the Papua LNG, has a potential gas reserves of 6-7TCF (trillion cubic feet) and is set to begin.
“We commend the acting secretary and his team for assuring the rest of Papua New Guinea that we have such a huge reserve that promises great economic opportunities,” Alkan said.
“We also note that DPE highlighted some of its capacity constraints that constricts it to be able to effectively coordinate the industry (petroleum and energy) that is fast growing.
“Findings of the first ((2013) PNGETI Report indicate DPE is chronically under-resourced and lacking in capacity, and was the subject of a number of priority recommendations submitted to the  National Executive Council for endorsement.” The National