O’Neill told delegates at the 2nd Petroleum and Energy Summit in Port Moresby yesterday that though the shutdown of the PNG LNG Project will cost the Government a lot of money, they will recover.
PM O’Neill however said the partnership with development partners is very important as Government cannot work alone but go in partnership for a win-win situation for both parties.
He said the Government will be working closely with ExxonMobil and Oil Search for the reoperation of the PNG LNG Project.
The disaster is terrible but as Government, they will continue to advance the plans in future resources, particularly the oil and gas sector.
“We have huge potentials in the sector and encourage investors to invest in the country,” said O’Neill.
There is huge potential in the oil and gas industry in the country but the government needs to turn these potentials into an economic growth opportunity for the people.
He said the government is also confident in the hydrocarbon in the Gulf of Papua and welcomes investors to invest in it.
(Prime Minister Peter O’Neill)