Summit useful in advancing petroleum energy sector: Sonk

Business

By LUKE KAMA
THE Petroleum and Energy Summit is creating a very useful platform for meaningful discussions on advancing Papua New Guinea’s petroleum and energy sector, says Kumul Petroleum Holdings Ltd (KPHL) managing-director Wapu Sonk.
Sonk said the summit was bringing together investors, resource owners, regulators and all key stakeholders together in meaningful and constructive discussions concerning the country’s petroleum and energy sector.
“Over the last two days, I have seen that it is not like the PNG mining conference in Sydney, Australia,” he said on Wednesday.
“In Sydney, people went there and just attended the morning session, and there has been no serious discussions like what we had here over the last two days. “The discussions here were very good. Since the conference was started two years ago, many important issues and challenges concerning the country’s petroleum and energy sector were brought to light, with appropriate action being taken by the Government to address it.
“Some of them are local content policy and domestic market obligations, third-party access, and the petroleum authority which the Government is looking at having in place to better manage and address the challenges in the sector. It’s a platform that is already having positive impact on the sector and the country, where we were able to correct our past mistakes on the first PNG LNG project and go forward into the future.
“It will be bigger and better.”
He commended all who participated and welcome everyone to the 2020 summit.

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