Prime Minister James Marape announced that discussions on the Pasca A Gas Project in Gulf Province are progressing well.
The announcement followed a meeting between the Prime Minister, the State Negotiating Team (SNT), and representatives of Twinza, the developer of the project.
The Pasca A Gas Project which is located approximately 95km offshore from Gulf is expected to contribute over K30 billion to the economy and K15 billion directly to the country over the life of the project.
The development is being pursued in partnership with the Mineral Resources Development Company (MRDC) through a 50-50 Joint Venture.
“I met with the SNT Chairman Dairi Vele and representatives of Twinza. The project is at a stage where we are progressing towards the Petroleum Retention License (PRL). This will be followed by the Gas Agreement (GA), Final Investment Decision (FID) and finally the Petroleum Development License (PDL),” Prime Minister Marape said.
He said, “Although there have been some delays, we all agreed that Pasca is part of the four ‘Ps’ of the Marape Rosso Government, Porgera Gold Mine, Papua LNG, P’nyang LNG and Pasca A Gas Project. The SNT and Twinza are in very advanced discussions. We envisage that before we go to the 2024 Papua New Guinea Investment Week in Sydney, Australia, in December, we should have advanced the Pasca A Gas Project into a stage where it gives confidence to our investors.”
