Two of the country’s prominent resource companies have joined forces to supply electricity in the country, using portions of the gas from the PNG LNG Project.
Heads of the state’s National Petroleum Company and the trustee for affected landowners; the Mineral Resources Development Corporation, met this afternoon and signed a confidentiality agreement.
This agreement will pave way for the both companies to explore and develop business opportunities in the Oil and Gas Sector through the newly established, Port Moresby Gas Supply Project.
The signing of the joint venture agreement this afternoon between NCPC Managing Director, Wapu Sonk, and MRDC Managing Director, Augustine Mano, is history in making a milestone achieved and a greater investment for the nation and affected landowners and provincial governments in the Oil and Gas Sector.
Mr. Sonk said under the agreement, relevant technical, financial and commercial information will be exchanged to build and operate the newly established Port Moresby Gas Supply Project, currently under feasibility studies.
He said the project is situated just a few kilometres off the LNG Plant site. It will supplement gas from Gobe for electricity generation to the nation’s capital, Port Moresby.
All stakeholders, including the Prime Minister, IPBC and PNG Power, had already been consulted prior to this signing.
The men are confident this project will be successful and benefit the nation. The companies have appointed Richard Robinson as Project Director to oversee the development of this joint project.
He was been recommended for the vast experience in the Oil and Gas sector in the country.
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