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Call for rule change to monitor oil, gas mining in PNG

THE Papua New Guinea Extractive Industry Transparency Initiative believes the timing is right to change the rules governing the petroleum and mining sector.
Head of the Papua New Guinea Extractive Industry Transparency Initiative  National Secretariat Lucas Alkan was responding to news about Papua New Guinea’s first off-shore gas project, the K936 million Pasca Gas Field in Gulf, set for its first drilling in 2020.
Alkan said there must be a better fiscal and regulatory mechanism in place for the good of the industry and the economy.
“Changes in technology and the way people do business are so swift today,” he said.
Alkan said the petroleum and mining industry had its own challenges and opportunities.
“Papua New Guinea  is in a very unique position to set standards that other miners and explorers around the world can learn from. The Solwara 1 Project in New Ireland and the Pasca projects are a case in point,” he said.
“We are of the view that the industry and the Government are meeting immediate obligations and this must be further strengthened to see better outcomes.”
Alkan said if there was a need to fine-tune certain legislations and policies, the time was right to make things happen now.
“In regards to the offshore gas project in Gulf, we trust the Department of Petroleum and Energy is on top of this in terms of policy and legislative to cater for this development,” he said.
“We have a world-class technical expertise to make Papua New Guinea a model mining and petroleum country that strictly upholds global best practices, whether it be on transparency or the overall approach taken in administering and regulating business in the mining and petroleum space.
“We, at Papua New Guinea Extractive Industry Transparency Initiative, always stand ready to do our bit in promoting accountability and transparency in the industry.” The National
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