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Mining/petroleum

Oil Search reviewing costs as prices fall, but Botten says Papua New Guinea gas projects will be prioritised

3 Feb 2016 by Leave a Comment
Declining oil prices have prompted a review of Oil Search’s activities, even as production hit record levels in 2015. Nevertheless, Papua New Guinea's largest company says it is generating positive cash-flows and will be making a priority of future investment in the PNG LNG and Papua LNG gas projects.
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Restructure will see 25% reduction of Ok Tedi staff and switch to ‘fly in-fly out’ operation at Papua New Guinea mine

9 Dec 2015 by 3 Comments
PNG’s state-owned mine is undergoing a radical restructuring which will result in a 25% workforce cut and see the company move to a Fly-In, Fly-Out operation, says Managing Director and CEO, Peter Graham.
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Papua New Guinea mining and petroleum conference to emphasise need for stability: Chamber

19 Nov 2015 by Leave a Comment
Regulatory stability, and how industry and Government can work together to deliver ‘shared benefits’ will be key themes of next week’s Papua New Guinea Mining and Petroleum Seminar in Port Moresby, according to PNG Chamber of Mines and Petroleum Executive Director, Greg Anderson.
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More oil and gas mergers and acquisitions could impact Papua New Guinea, say analysts

16 Nov 2015 by 2 Comments
Two major takeover offers involving leading companies operating in Papua New Guinea’s oil and gas industry have emerged in recent months. Business Advantage PNG spoke to oil and gas analysts about what this mergers and acquisitions activity means for the sector.
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Second mine suspension in Papua New Guinea highlights drought impact

21 Oct 2015 by Leave a Comment
The suspension of a second mine in Papua New Guinea has highlighted the impact of the El Nino drought, which is also severely affecting the agriculture industry. Just how long the drought continues for will determine the long-term effects, according to Paul Barker, the Executive Director of the Institute of National Affairs.
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Profile: Engineer’s passion to improve access to power in Papua New Guinea

14 Oct 2015 by Leave a Comment
For more than 30 years, Finkewe Zurecnuoc has been a trailblazer for female engineers in Papua New Guinea. The PNG Power board member is now focusing on using her professional experience to help improve accessibility to power in remote areas.
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Woodside launches non-binding bid for Oil Search as Papua New Guinea gas attracts attention

8 Sep 2015 by Leave a Comment
Australia’s Woodside Petroleum has launched an A$11.65 billion (K22.83 billion) offer for one of Papua New Guinea's largest companies, Oil Search Ltd. It's the latest in series of moves that has seen several PNG gas-related assets change hands in the past year.
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Papua New Guinea LNG projects viable, despite low commodity prices, says Oil Search’s Botten

2 Sep 2015 by Leave a Comment
Gas projects in Papua New Guinea are extremely viable, despite the downturn in oil and gas prices, the Managing Director of Oil Search, Peter Botten, has told the 2015 PNG Advantage Investment Summit in Brisbane.
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Kumul restructure to be complete by start of 2016: Prime Minister O’Neill

19 Aug 2015 by Leave a Comment
Following the passage of enabling legislation in the last sitting of Papua New Guinea's National Parliament, the long-awaiting restructure of state assets and enterprises under the Kumul name is set begin, with Prime Minister O'Neill setting a target of 1 January 2016 for the transfer of state assets to their new homes.
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