Oil Search

Botten was speaking at a function at Sydney’s iconic Opera House to welcome the Orchids to Australia for the 2017 Women’s Rugby League World Cup. Oil Search is the naming rights sponsor for the PNG Orchids.

Acting Australian Prime Minister and Foreign Minister Julie Bishop also attended the occasion on Tuesday, encouraging the team to give it their best.

This is part of phase two of Oil Search’s drought relief program with the opening of a Hebaiya water project this month.

The effects of the 2015 El Nino induced drought brought many challenges to numerous communities living within the Oil Search operational areas.

For the villages of Hebaiya, having access to safe drinking water is a dream come true.

Lake Kutubu Local Level Government president, John Pipi Kila, thanked Oil Search and urged the village of Hebaiya to take ownership of the water project.

The ultimate prize in international rugby was welcomed at Kaugere by Member for Moresby South, Justin Tkatchenko, together with local rugby league club representatives, students and the public.

Tkatchenko thanked Oil Search for the great initiative in bringing the Trophy down to the grass roots level, and also commended the government and all stakeholders that were involved in bringing the Rugby League World Cup 2017 to PNG.

It has visited villages, schools, offices, sporting fields and public places, and has been seen and touched by people from all walks of life.

It was no different when the Trophy was on Lihir Island and Kavieng town in New Ireland Province last week.

Welcoming the trophy to Zuen Christian Academy, former junior Kumul, July Totsik, said bringing the Paul Barriere Trophy will certainly inspire future rugby league stars in PNG.

Totsik said sports is one thing that can unite a nation and keep youths away from trouble, sentiments echoed by many on the tour so far.

KPHL made the official announcement today after the decision was made yesterday.

Chairman Moi Avei said this was a commercial decision by the board that was in the best interest of KPHL.

Managing Director Wapu Sonk said the decision to sell the shares had been looked at over the last two years but had been waiting the right time.

He said with the current pricing, the board decided that it was time to sell.

The MD said the shares were sold at $6.70, a dollar thirty short of the purchase price of $8.

Pruaitch says he stood by his earlier statement that it is in the national interest for locally produced resources such as crude oil, copper, gold, fishery and forest products, to be sold to local purchasers in PNG’s national currency, the Kina.

Pruaitch believes it is an infringement of our sovereignty for lenders, or any other entity, to insist that domestic resources have to be paid for in US dollars or other foreign currencies, even when sold to PNG buyers.

Such arrangements add to the cost of doing business and hamper efforts to encourage domestic processing.

Executive general manager of stakeholder engagement at Oil Search, Gerea Aopi, said this when addressing participants of the Climate Change and Sustainable Development Workshop.

Aopi said from previous experience, when collaborating with the Government, there was usually no consistency amongst various agencies regarding policy and implementation.

He said to address a critical issue such as climate change, all government agencies and key stakeholders needed consistent alignment and direction to effectively address the issue.

Oil Search Limited says the commercialisation options for these fields will be dependent on appraisal results.

Other options dependent on the appraisal results include the delivery of third party gas for LNG expansion or Small Scale LNG (ssLNG).

Oil Search says this represents a potential competitive source of fuel for domestic and/or regional markets that are currently dependent on diesel.

The Barikewa Gas Field is located in Gulf Province while the Kiu Gas field is located on Western Province.

The update is contained in Oil Search’s Half Year Results.

The licenses are located adjacent to the world-class Elk-Antelope gas fields and contain the Triceratops, Bobcat and Raptor discoveries.

Oil Search announced in its half year results report that their planned entry into the licenses will enhance their exploration portfolio.

The company said it will also build on their existing strong relationship with ExxonMobil in the PNG LNG and Papua LNG projects.

‘Seismic acquisition’ is the generation and recording of seismic data.