PNG Petroleum Minister Encourages Eni to Explore Investment Opportunities in the Country’s Energy Sector
Papua New Guinea’s Petroleum Minister, Jimmy Maladina, has extended an invitation to Italian energy giant Eni to explore potential investments within PNG’s burgeoning petroleum industry. The call for collaboration comes amid ongoing consultations regarding the feasibility of production sharing contracts (PSCs), during which Maladina and his team have engaged with key stakeholders, including current contractors active in the region.
Among those consulted was Eni Asia Pacific, a leading name in deepwater exploration and development. During discussions with Roberto Daniale, head of Eni Asia Pacific, Maladina underscored PNG’s dedication to creating a competitive and transparent framework for investors.
Daniale noted that the government is actively working to unlock petroleum prospects along the Gulf of Papua and the country’s coastline, with several blocks set to be offered to international bidders through a process overseen by the Department of Petroleum and Energy.
“PNG offers substantial opportunities for investors who are both responsible and well-funded,” Daniale remarked. “Considering Eni’s extensive expertise in deepwater projects, we strongly encourage them to evaluate expanding their operations into PNG.”
Eni expressed interest in the proposal, confirming that it had been reviewing potential opportunities in the country. The company requested additional information on the upcoming bidding rounds once they are officially announced.
Minister Maladina reiterated that PNG is ushering in a new phase of petroleum sector governance, emphasizing stricter enforcement of license conditions. Speculative holding of exploration rights without meaningful progress will no longer be tolerated.
“We are steadfast in ensuring that licenses are granted only to credible investors who possess the financial strength and technical know-how to develop our natural resources,” Maladina stated.
This renewed focus on attracting serious players reflects PNG’s commitment to advancing its energy sector while fostering sustainable economic growth.
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