By North-Fly MP, JAMES DONALD.
I keep on stretching since day one to the Minister for Petroleum Hon. Kerenga Kua that ExxonMobil is illegally holding onto the Petroleum Retention License number 3 (PRL3).
The PRL3 license for Pnyang has expired in May 2016 after all the extension were exhausted by successive governments.
ExxonMobil held onto the license for more then 20 years and really has gone against the OGA that says extension can only be granted three consecutive terms which is 15 years.
I can't understand why the current Minister and the government continues to entertain ExxonMobil knowingly the PRL3 license has expired and there is no more room for any extension.
This to me already demonstrates that there must be conflict of interest with ExxonMobil that's why we keep on entertaining them.
Its very sad to understand that we can't think PNG first. If the law says it has expired, so be it that it's expired and return the license back to the State.
My proposal would be to return the License back to the State and the license can be issued to our own National SOE company like Kumul Petroleum Holdings Limited.
Becaus KPHL does not have capacity it can put out bid for possible genuine investor to purchase into some portion and we can go into development deal owned by National own company. We can test ExxonMobil if they would bid also.
Overall, we must take control of the license and not any investor who will dictate us.
This is how we can make money for our country through this license. The PRL3 license itself is worth lots of billion dollars.
This should be the first step we should be taking while we in the process of amending the OGA.
Too much compromising our sovereignty.
When would I be part of government that stands tall to put it's two feets down.
Baby baby em inap.
MPNF
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I keep on stretching since day one to the Minister for Petroleum Hon. Kerenga Kua that ExxonMobil is illegally holding onto the Petroleum Retention License number 3 (PRL3).
ExxonMobil held onto the license for more then 20 years and really has gone against the OGA that says extension can only be granted three consecutive terms which is 15 years.
I can't understand why the current Minister and the government continues to entertain ExxonMobil knowingly the PRL3 license has expired and there is no more room for any extension.
This to me already demonstrates that there must be conflict of interest with ExxonMobil that's why we keep on entertaining them.
Its very sad to understand that we can't think PNG first. If the law says it has expired, so be it that it's expired and return the license back to the State.
My proposal would be to return the License back to the State and the license can be issued to our own National SOE company like Kumul Petroleum Holdings Limited.
Becaus KPHL does not have capacity it can put out bid for possible genuine investor to purchase into some portion and we can go into development deal owned by National own company. We can test ExxonMobil if they would bid also.
Overall, we must take control of the license and not any investor who will dictate us.
This is how we can make money for our country through this license. The PRL3 license itself is worth lots of billion dollars.
This should be the first step we should be taking while we in the process of amending the OGA.
Too much compromising our sovereignty.
When would I be part of government that stands tall to put it's two feets down.
Baby baby em inap.
MPNF
Next :