Govt expects mining, petroleum industries to work together: Kua

THE Government expects the mining and petroleum industries to work together to ensure the production sharing contract regime is designed and engineered according to the law.
Petroleum Minister Kerenga Kua was responding to statements by the PNG Chamber of Mines and Petroleum criticising the Government’s proposed introduction of the production sharing contract regime under a proposed organic law.
“(It is important) that the regime continues to enable the contractors/developers to make a fair return on their investment while it delivers to the expectations of the people,” Kua said.
“The chamber and its membership can be rest assured the Government and the Kumul Companies will not lose sight of this make-a-break bottom-line requirement for investors in oil and gas, and minerals in PNG.
“This requires maturity and understanding on both sides.”
He said any serious proposal that could be created and implemented in the interest of the people “can only be thought through, created and implemented by the Government”.
“Any Government has a constitutional responsibility under section 25 of the Constitution (National Goals and Directive Principles) to determine, craft and implement a regime that enables the Government to discharge that Constitutional responsibility for the long-term benefit of the people.”