Oil Search pays K78m in levies and royalties

By BOSORINA ROBBY
THE government yesterday banked over K19 million in levies as well as K59 million in royalties from OiL Search Ltd.
In handing over the cheques in Port Moreby, Oil Search general manager, community and external affairs Willie Kupo said the payments was for the South East Mananda and Moran PDL areas  in the Southern Highlands.
The cheques were handed over to the Department of Petroleum, which was represented by acting assistant director, exploration branch, Jimmy Haumu.
Kupo said the company had paid a total of K175 million in development levies , including yesterday’s cheque to the Government.
The levies were meant for development projects that provincial and local level governments had planned for the two areas.
Kupo said Oil Search had also paid K504,442,458 in royalties to the PNG stakeholders over the years.
 “We also are very committed to our other community projects such as the health and community outreach and to our tax credit scheme where we partner with the state to deliver much needed infrastructure including health, education and training, employment, business development, roads and bridges to the project area communities.”
On the question of whether or not Oil Search monitored the use of these monies, Kupo said the company used a baseline survey indicator before a project began and made comparisons along the way to determine the usage of these funds within the project’s areas.