THE Papua New Guinea Petroleum and Energy department is receiving many requests from petroleum prospecting licence (PPLs) holders to extend the period of their licenses, an official says.
Department secretary David Manau said it indicated that it was difficult for the companies to conduct businesses in the country at this time.
Manau told a media workshop on Tuesday in Port Moresby that there were different licenses for exploration, petroleum development, petroleum retention for discovered gas reserves which are considered sub-economic, pipeline and petroleum processing facility.
“There are four main licenses under the Oil and Gas Act.
“During the Covid-19 period, most of the licence holders applied for an extension of time.
“It is an indication that there is difficulty in doing business currently in the petroleum industry.
“We have also had surrenders. Surrenders (indicate) that it is difficult to do business in PNG.”
He said over the years, there had been 100 PPLs. “Now, 58 are currently under tenure.
“In terms of retention license, there are 11 active ones.
“Three were awarded in 2021,” he said.
“Even though during the Covid-19 period, there were seven PPL awarded.
“All other licences remain the same.”
Statement/TheNational/PacificMiningWatch
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