Oil Search Managing Director

Oil Search Managing Director, Peter Botten, made this forecast whilst advocating major new infrastructure must be developed in a responsible and sustainable way.

Speaking at the PNG Petroleum and Energy Summit in Port Moresby, Botten said the global LNG market is highly competitive with other major new projects already moving to final investment decision.

The award was announced as part of Saturday’s Australia Day Honors.

Botten has previously been awarded Commander of the British Empire award for services to the community, mining and petroleum industries in PNG.

In a statement Company Chairman, Rick Lee, congratulated Botten saying the award is recognition of his heartfelt and longstanding commitment to building corporate-community relationships in PNG.

“Botten’s leadership is held in very high regard for making a difference in PNG – not only from an industry level but at a very personal level too.

Oil Search Managing Director, Peter Botten, said progress has been made on finalising the detailed agreement based on the structure established in the MoU.

The MoU provides the framework for key terms and conditions to be included within the Papua LNG Project Gas Agreement, including the tax rates and Domestic Market Obligation that will apply.

Botten said this in the company’s fourth quarter report for 2018.

Oil Search Managing Director, Peter Botten, said there is already cases of diarrhoea and other related illnesses due to contaminated water.

He said while efforts are increasing, there remains a dire situation.

Botten said in a media conference on Monday that a potential outbreak could occur due to contaminated water.

 “I think everybody knows there’s a high likelihood that this is happening and I think a response is building through this committee to what will inevitably be some outbreak of diarrhoea and other disorders,” he said.

Oil Search managing director, Peter Botten, revealed this during the announcement of OSL’s 2017 results.

Botten said productive, high level meetings were held with ExxonMobil and Total to discuss the results of the downstream development options that were received by the PRL 15 joint venture partners last December.

“The partners have reached broad agreement on the preferred development concept, which will be presented to the PNG Government and other PNG LNG and PRL 3 joint venture partners for endorsement.

This potential covers any exploration, appraisal, and developments, within the next few years.

During the Prime Ministers Breakfast in Port Moresby on Thursday, Oil Search Managing Director, Peter Botten, said the potential investment will create 20,000 new jobs and significant economic spin off benefits.

PNG is in a tremendous position to expand LNG production. There’s more discovered proven, probable gas reserves now than before PNG LNG’s first initial sanction,” Botten said.

In his speech during the Prime Minister Breakfast event on Thursday, Botten called for the removal of barriers hindering the fair distribution of LNG benefits to landowners.

In his update to the business community on the gas resource sector, Botten said a pre-requisite for developers investing in PNG and engaging with the Government, Landowners, and stakeholders was to ensure ‘fair value distribution.’

Oil Search Managing Director, Peter Botten, said this when questioned why the TCS was used to fund projects outside provinces in which resource projects were in.

The question was raised by Madang Open MP, Bryan Kramer, who said the original intention of the TCS was to provide road infrastructure for project areas.

“We’ve adopted a practice now where projects which were supposed to be expanded in rural development in the project area are creeping up in Port Moresby,” said Kramer.

Botten said that decision was the Government’s prerogative.