Papua New Guinea PETROLEUM Minister Kerenga Kua says K120 million in outstanding capped memorandum of agreement (MoA) funding for PNG LNG project landowners will be released as soon as Treasury releases the money.
Kua said this after receiving a petition from PNG LNG Landowners from Hides petroleum development license (PDL) one to seven yesterday who gave 14 days for the Government to release the funds and respond to other outstanding issues.
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| PNG LNG Landowners to receive Payments [ Photo : PNG Petroleum Minister Kerenga Kua] |
He said the National Executive Council (NEC) had already approved the release of the money and the payment needed to be settled.
“I must say that personally I am ashamed of the Government,” Kua said. The Sinasina-Yongomugl MP said the issue stemmed from 2009 but to his Government’s credit, most of that commitment has been paid with the current demand being for the outstanding.
“We got the Department of Petroleum and Energy and all the stakeholders to work together for two years until they condensed the outstanding to a figure of K120 million.”
Kua said the amount of K120 million had been settled on in June last year and the NEC had approved payment, however, Treasury had yet to release the funds.
“I will continue to push with the Prime Minister, Treasurer and Finance Minister to release the K120 million.
“All the paper work to distribute the money is ready, it’s just that we are waiting for the money.
“This is not a disputed amount.”
Petroleum and Energy secretary David Manau said the screening process for the capped MOA is complete.
“The K120 million covers brown fields like Gobe, Kutubu, Moran and Hides,” Manau said.
He also clarified that the capped MOA was not an equity, royalty or entitlement.
“Its outstanding project money.”
The National / Pacific Mining Watch