Project can provide jobs: Oil Search


SUBJECT to final investment decision (FID), the PNG Biomass project in Morobe is a targeted investment into alternate fuels which has the potential to provide hundreds of jobs, offset carbon emissions and provide local communities with reliable and cost effective power, according to Oil Search.
The petroleum company, in its 2020 Sustainability Report, released last week, said the power would support community livelihoods and well-being.
“It consists of a 30 megawatt biomass power plant integrated with dedicated sustainable forestry plantations to provide domestically sourced and generated biomass electricity,” the report said.
“In the short term, PNG Biomass has the potential to generate and sell 100 per cent base load renewable energy into the grid, generating 160,000 carbon offsets per year and up to 3.3 million tonnes of carbon emission abatement over the life of the project.
“This project, if approved, would allow Oil Search to enter the energy transition and gain expertise in developing and owning carbon offsets and other nature-based energy solutions.”
Meanwhile, the company noted that it planned to reduce its energy use by 2050.
“We aim to be a net zero energy company by 2050 and are working on new solutions that will support Oil Search plans to achieve this goal.”