Central & SE Asia / Australasia

Papua New Guinea flag
Summary | Profile

Country profile: Papua New Guinea

Location: Oceania, group of islands including the eastern half of the island of New Guinea between the Coral Sea and the South Pacific Ocean, east of Indonesia
Climate: tropical; northwest monsoon (December to March), southeast monsoon (May to October); slight seasonal temperature variation
Terrain: mostly mountains with coastal lowlands and rolling foothills
Size: 462840 sq. km total (Land area: 452860 sq. km  Water area: 9980 sq.km)
Population: 5,931,769 (July 2008 est.)
Languages: Melanesian Pidgin serves as the lingua franca, English spoken by 1%-2%, Motu spoken in Papua region note: 820 indigenous languages spoken (over one-tenth of the world's total)
Government: constitutional parliamentary democracy
Capital city: Port Moresby
Legal system: based on English common law; has not accepted compulsory ICJ jurisdiction
Currency: kina (PGK)
Licensing:

Country profile

The eastern half of the island of New Guinea - second largest in the world - was divided between Germany (north) and the UK (south) in 1885. The latter area was transferred to Australia in 1902, which occupied the northern portion during World War I and continued to administer the combined areas until independence in 1975. A nine-year secessionist revolt on the island of Bougainville ended in 1997 after claiming some 20,000 lives.

Energy production and consumption


Oil Gas
Production: 50,000 bbl/day (January 2006 est.) 95 million cu m (2005 est.)
Consumption: 26,000 bbl/day (2005 est.) 95 million cu m (2005 est.)
Exports: 44,580 bbl/day (2005 est.)  
Imports: 24,020 bbl/day (2005 est.)  
Reserves: 170 million bbl (2007 est.) 331 billion cu m (1 January 2006 est.)
Major fields:



Papua New Guinea - recent news

06 Nov 24
PNG: Kumul Petroleum finalises LNG forward sale to Chevron
Chevron has agreed to make an advance payment to Kumul Petroleum, in exchange for LNG and condensate cargoes over the next two years from the PNG LNG Project in Papua New Guinea.
04 Nov 24
PNG: Santos completes 2.6 per cent sale of PNG LNG to Kumul
Santos has announced completion of the sale of a 2.6 per cent interest in PNG LNG to Kumul Petroleum Holdings. Effective 4 November 2024, Santos’ working interest in PNG LNG is 39.9 per cent.
31 May 24
PNG: MRDC and Twinza execute agreements over the Pasca A Project
Mineral Resources Development Company ('MRDC'), Twinza Oil and Twinza Oil (PNG) have announced that they have obtained all internal approvals and executed a series of binding agreements for MRDC to take an up to 50% Participating Interest in the Pasca A Development Project and for the companies to cooperate in the acquisition and development of other oil and gas assets in Papua New Guinea.
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.

Papua New Guinea - more news

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