Morobe leaders, O’Neill discuss Wafi project

Morobe leaders met with Prime Minister Peter O’Neill in Parliament on Tuesday to discuss issues relating to the memorandum of understanding (MOU) for the upcoming Wafi-Golpu project.
O’Neill said the MOU was established to give confidence to the developer to progress the project ahead of further consultation with all stakeholders.
“The MOU sets out some high-level understanding on fiscal terms, and benefit sharing,” he said.
“Through this process, the Government has established the requirement for 20 per cent equity for Papua New Guinea.
“That includes 5 per cent free carry to landowners and the State of PNG.
“From this, if landowners or the Morobe government wish to seek additional equity, this is available on commercial terms.
“Morobe leaders will be directly involved through every aspect of consultation, including at the ministerial level. At the meeting, Morobe leaders expressed satisfaction and look forward to working with the Government to progress the project and to achieve the project’s target for agreement in June 2019.”