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Country summary: Papua New Guinea

energy-pedia opportunities - Papua New Guinea:
Current deals: 1
Licensing articles: 16
Completed deals: 65

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Papua New Guinea - recent news

07 Mar 24
PNG: PGS sponsors PNG digitalization initiative
PGS is supporting PNG Department of Petroleum and Energy modernization and digitalization, improving access to data. The PNG Department of Petroleum and Energy (DPE) plays a crucial role in regulating Papua New Guinea’s oil and gas industry and provides essential information to partners and prospective investors.
01 Feb 24
PNG: Santos announces partial completion of sale of 2.6 per cent of PNG LNG to Kumul
Santos refers to its 29 December 2023 announcement for the sale of 2.6 per cent of PNG LNG to Kumul Petroleum. Santos and Kumul have agreed an amendment to the Sale Agreement where Kumul has taken an effective interest in the Santos entity that holds the 2.6 per cent sale interest. Kumul has paid US$352 million to Santos on 31 January 2024 to allow partial completion of the transaction.
02 Jan 24
PNG: Santos confirms funding conditions met to complete sale of 2.6 per cent of PNG LNG to Kumul
Santos has confirmed that further to the announcement on 31 August 2023 for the sale of 2.6 per cent of PNG LNG to Kumul Petroleum Holdings, funding for the transaction has been secured by Kumul.
21 Nov 23
PNG: Altrad Sparrows ventures into Papua New Guinea with ExxonMobil LNG contract
Sparrows Group, the maintenance and engineering services specialist for the global energy and industrial sectors, has announced a momentous contract win for the provision of comprehensive crane maintenance services to the ExxonMobil PNG LNG project.
01 Sep 23
PNG: Santos agrees an initial sale of 2.6 per cent of PNG LNG to Kumul and an option for Kumul to acquire a further 2.4 per cent
Santos has executed a binding sale agreement to deliver Kumul Petroleum a 2.6 per cent participating interest in PNG LNG for a total purchase consideration comprising cash of $576 million and the assumption of ca. $160 million of project finance debt and a call option to acquire a further 2.4 per cent participating interest in PNG LNG for a cash purchase price of $524 million.

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