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Port Moresby
August 6, 2021
News

Stanley Gas Development Agreement Signed

After two weeks of intense discussions, the Development Agreement for the Stanley Gas Condensate was signed in Kiunga.

Minister for Petroleum and Energy, Nixon Duban, told the landowners to work together with the developer Horizon Oil Limited, to develop the project as the license is only for 25 years.

 

The project submission was rejected so many times by the National Executive Council, until recently under Minister Duban, the project was approved and signed by concerned stakeholders.

 

On the day of the signing, the crowd at Kiunga Sports Oval waited in anticipation from afternoon till the last sunrise. While waiting, they were entertained by the different traditional dancers from the North Fly District, and others from Western Province.

 

When the Minister for Petroleum and Energy, Nixon Duban took the stage to address the crowd, it was already dusk, however, he used the opportunity to tell the people about the struggles of the Stanley Gas Project Submission. He told the people that the project was rejected several times by Cabinet, and had to be revised over and over and went before two Ministerial Committees, before it was approved.

 

Minister Duban told the people that they should appreciate the Benefit Sharing Agreement for the Stanley Gas Condensate. Because, he says unlike the PNG LNG Project, by law, there is a 10 percent national content plan to allow the locals to actively participate in business spin–offs and contracts. 

 

He said unlike gas from the PNG LNG where the products were all shipped to Japan, the Stanley Gas Condensate Project has a 15 percent Domestic Market Obligation where the government can control gas to address the power problems in the country.

 

Minister Duban also appealed to the people to work together with the landowners to help develop the project for the duration of 25 years.

https://youtube.com/watch?v=I6N1po2ZmZQ%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0

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