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Port Moresby
June 28, 2022
News

Regulating Oil and Gas Development in PNG

 

By Delly Waigeno – EM TV News, Port Moresby

Key government agencies in the energy sector are in discussions to identify best practices for the regulation of oil and gas development in PNG.

The dialogue is being facilitated by the United States Embassy in Port Moresby.

It’s expected that those involved in the development of the oil and gas sector, work together to implement PNG’s policies and laws and discuss ways to improve communication and coordination amongst themselves.

Today, the US Embassy started its three-day workshop titled “Identifying Best Practices for the Regulation of Oil and Gas Development in Papua New Guinea”.

It was attended by over 30 officials from key agencies including the National Petroleum Company, the departments of petroleum and energy, finance, treasury, national planning, lands and physical planning, and justice and attorney General.

This workshop is the latest in a series of exchanges led by the U.S. Department of Interior’s Bureau of Land Management since 2012 as part of the Energy Governance and Capacity Initiative. 

The objective is to help PNG manage its oil and gas sector revenues wisely so that it maximizes and sustains natural resource development.

Finance Minister, James Marape, said that as an oil and gas producing country, the topics of Best Practice, sustainable development and traditional landowners’ benefits were of interest to the government.

https://youtube.com/watch?v=t_MShymsG_4%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0

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