Tuesday, May 15, 2018

PNG LNG Benefits (Royalties and Development Levies) Legally Stolen through Flawed Agreements

Commentary by Philip Undialu

Landowners and Provincial Governments of PNG LNG Project lost nearly K800 million in Development Levies and Royalties over the last four years. The reason being that corporate giants bullied and forced our politicians to agree on a formular outside of the requirements of Oil and Gas Act and the Orgaic Law.

We even got negative royalty for four months in 2016 though they made K900m per month that time. What we are paid is Net Profit not Wellhead Value. I will call on Exxon Mobil and Oil Search to admit this failure and give back what belongs to my people. Pay them based on the Orgaic Law and Oil and Gas Act, not the fake agreement.

This is a human rights issue and I will not allow my people being deprived of. I need those monies to rebuild infrastructure devastated by the earthquake disaster. Thanks for the donations and assistance so far. From now own, what belongs to Hela must be given back so we will rebuild our communities.

It is pathetic for Chairman of Oil Search to attack the Government after robbing it's people through a flawed agreement the Somare Government facilitated between 2008 to 2010. It's by time we take everything back to round table and ascertain who is to be blamed.

Thank you and standby for full Assessment Report from my Hela PEC has sanctioned.

Governor Hela

Next:

PNG Petroleum Minister clears air on the K3m vetting funds


SHARE