Licences cancelled after audit, Duban says

PETROLEUM and Energy Minister Nixon Duban says he has cancelled many petroleum licenses following an audit carried out into the sector.
He told the PNG Mining and Petroleum conference in Sydney that two years ago, he underscored how the Government was improving PNG’s petroleum licensing system.
“You would have learnt that I have publicly announced introducing austerity measures in the licensing system in the country,” he said.
“I have made it known that the licensing system will be improved.
“Of the 100 licenses issued in PNG, I have cancelled half of these as a result of an audit I sanctioned. I believe this will improve future growth opportunities especially for companies who are serious to develop oil and gas prospects.”
He said the PNG LNG project had attracted world-class infrastructure which provided a strong catalyst for future growth in the gas sector in the country.
“I am proud to say now that the PNG LNG project being the foundation project has set the stage for future LNG projects in PNG,” he said.
“It has truly put PNG on the world map as an LNG exporting nation to the Asian region.
“Papua New Guinea began exporting LNG in May 2014.
“There have been more than 250 shipments of LNG so far.”
He said the Stanley gas project in Western was currently under review by the operator Repsol because of the low oil price.
Duban also spoke highly of the Papua LNG project in Gulf.
“I am confident that the Total-led Papua LNG project will soon be successfully realised. The project has its own unique challenges at the moment,” he said.
“However, in terms of long term economic growth for PNG, the Government welcomes the development of this project.
“With Total SA being operator in the PRL 15 Papua LNG project, we will soon announce the development of the LNG project.
“Hence, we will work towards achieving a PDL, through the normal regulatory processes.”