Inaugural Petroleum and Energy Summit

During the officially opening of the two days Summit this morning, O’Neill confidently said the country’s economy is doing well.

He said PNG had faced challenges in the past years due to the drop in commodity prices.

However, he said the decrease in commodity prices did not change the main goals of the government to provide free education and health care to the people.

“With a very careful management of our economy, we did not lose grip of it and we never cut essential services to our people,” O’Neill said.

Chairman of the Summit Organising Committee, Peter Koim, says while other conferences have focused on other resources sectors such as mining and petroleum, the immense potential of energy still remains untapped.

Koim also says it was only fitting after two years of exporting LNG Gas.