Investors invited to invest in oil, gas

 PRIME Minister Peter O’Neill has extended an invitation to potential overseas investors to help build a “strong, secure and harmonious” Papua New Guinea.

He told the PNG Mining and Petroleum Investment conference in Sydney that the country “remains a sound and secure nation in which to invest and to do business”.

“My message to this conference has been clear. We can and must build on our success in the resources sector. 

“And to do this we need high quality overseas investment, management and expertise,” he said.

“Our nation welcomes new partners to help us in building a strong, secure and harmonious Papua New Guinea.”

He was happy with the attendance at the conference, saying it indicated a stronger interest and confidence in the mining and petroleum sector in PNG. O’Neill said the mining, oil and gas sectors were experiencing an unprecedented period of activity and growth.

“The construction phase of the world-class PNG LNG project has been successfully completed and the first production was delivered to Japan well before the anticipated date of delivery.

“Our discussions with investors and other representatives have been positive.

“Project developers have increased confidence in PNG and we will continue to maintain the policy and process certainty that the business community requires.

“We need to move to the next stages of the development of our mineral resources, and ensure the benefits are shared throughout the nation.”