Minister for Petroleum Jimmy Maladina has commended Kumul Petroleum Holdings Limited, Mineral Resources Development Company through Hevehe
Petroleum, and Twinza Oil (PNG) Limited for signing the Gas Aggregation Memorandum of Understanding (“MoU”) to advance coordinated gas development in the Gulf of Papua.
Minister Maladina said the agreement aligns perfectly with the Government’s clear policy direction on resource aggregation to promote cooperation, improve project economics, and accelerate the commercialisation of marginal and isolated onshore and offshore gas resources.
“This MoU demonstrates responsible leadership by our national and private sector partners.
By aggregating resources, the parties improve scale, reduce development costs, and position Papua New Guinea more competitively in the global gas market,” Minister Maladina said.
The Minister noted that coordinated development reduces duplication of infrastructure, lowers development costs, and increases the overall value of the resource base. He commended the parties for working together in the national interest and encouraged other resource holders to adopt similar cooperative approaches.
“This is the model we want to see across the sector. Collaboration strengthens investor confidence, protects value for the State, and supports sustainable long-term growth,” he said.
The Minister reaffirmed the Government’s commitment to a stable regulatory framework to support timely and coordinated project development.