Tuesday, February 20, 2018

PNG Local gas development legitimate

In light of future expansion aspirations by major developers of gas resources in the country, Oil Search managing director Peter Botten said he believes in a domestic market focus that the government wants.

Mr Botten said this when asked about future expansion plans for P’nyang and Elk-Antelope fields and new sets of challenges expected in the new areas both from landowners and government.

“There clearly is a focus in-country in ensuring quiet rightly I believe gas been made available in the domestic market and the development of domestic industries in Papua New Guinea,” Mr Botten said.

“I think that is clear from the government is observing what is happening in Australia right now and it is also clear that PNG has abundant gas and some of that should be utilised for local industry development and I think that is a very healthy approach.”

“One of the commitments of drilling more holes in the closing time of our gas deals is to ensure that we have the reserves that maybe apply to the domestic market in Papua New Guinea either through power or other industry development,” Mr Botten said.

He said the aspiration is a legitimate for the Government and a needed development in the economy.

“We are very supportive and we believe that is part of our long-term sustainable development of our oil and gas business in Papua New Guinea by being in that process.”

Local needs, Mr Botten said applies to the oil segment of its operations which he said at the moment it sells approximately 50 per cent of oil production into the local market.

“At the moment is the arrangement we have with Puma and that is happening and it is happening primarily in local currency. I believe that will continue in 2018,” he said.

Post Courier/Press Statement/PMW

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More work needed for PNG LNG Expansion


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