In a significant affirmation of the growing partnership between Papua New Guinea and Santos Limited in the hydrocarbon sector, Prime Minister James Marape has praised the company for its substantial contributions to the nation & economy and job market.
This acknowledgment came during a landmark week for PNG & hydrocarbon industry, marked by critical achievements with Santos Ltd., including the Fiscal Stability Agreement signing for the P’nyang LNG Project on March 18, 2024, at Government House and the inauguration of the Santos Global Support Centre on March 20, 2024, at Harbourside East, Port Moresby.
Prime Minister Marape expressed optimism for PNG & future as an LNG producer for the global market, anticipating at least 40 years of benefits for Papua New Guineans through direct and indirect involvement in the hydrocarbon sector.
With the Fiscal Stability Agreement signing for the P’nyang LNG Project this week, Santos now has the largest footprint in all of PNG’s hydrocarbon projects around the country, Prime Minister Marape stated.
He updated attendees on PNG & major hydrocarbon projects, including Papua LNG, P’nyang LNG, PNG LNG, and the upcoming Wildebeest project, underscoring the country & rich hydrocarbon reserves estimated at 20 trillion cubic feet (TCF).