Minister for Petroleum Jimmy Maladina has directed National Petroleum Authority (NPA) to take immediate action to conclude the Papua LNG Project Development Forum and advance the project’s final approval.
Mr Maladina met with NPA chairman Hubert Namani, Managing Director David Manau, senior management and project team to review the project’s progress and implementation strategy on the development forum.
The meeting provided a comprehensive update on the preparations underway and outlined the next steps required to reach the Final Investment Decision (FID).
The Minister stressed the urgency of completing the Development Forum and issuing the Petroleum Development License (PDL), describing them as the final state obligations before FID and the commencement of commercial production.
“The Papua LNG Project is critical for our economy, at this stage and for restoring investor confidence. It has taken too long and we have wasted a lot of time already. We must now move forward and deliver results,” Mr Maladina said.
He commended the NPA leadership and technical staff for their detailed work and strategic planning. He instructed that the NPA now move quickly to engage with the project proponents to finalize outstanding issues and submit a cabinet paper within two weeks for consideration by the National Executive Council.
Minister Maladina reaffirmed the Government’s strong commitment to the timely delivery of the Papua LNG Project and to ensuring that the benefits flow equitably to the people and the PNG economy.