Twinza Appoints Board Chairman

Papua New Guinea-focused Twinza has recently appointed Stephen Quantrill as the new Board Chairman after Chief Executive Officer, Ian Munro had not renewed his employment contract.

Twinza has been involved in negotiations with the PNG Government over its Pasca A project, the first offshore development situated in the Gulf Province.

Twinza said Mr Munro had elected not to renew his employment contract as chief executive beyond its expiry on 30 September.

Mr Quantrill has also been appointed chairman of the board, replacing Mr Munro, while a CEO search process is underway.

In recent Twinza statements, Mr Munro expressed his disappointment and concern about the way in which negotiations on Pasca project have progressed.

In his most recent statement on 24 August, he stated: “Twinza remains hopeful that both parties can honour the terms and agreement of 6th July 2021, and that we can move immediately into the FEED phase of the project.

“With a supportive government, we look forward to delivering PNG’s first offshore oil and gas production in 2025.”

 

However, The Government and Twinza is yet to sign off deals on Pasca project after the agreement signing was stalled in July, 2021.

Twinza is hopeful the agreement signing will get underway soon with Mr Quantrill expected to travel to PNG to identify a path to the signing following the resignation of Mr Munro.

Mr Quantrill stated: “Ian has been instrumental in advancing Twinza’s Pasca A project and we thank and wish him continued success.

“In order to ensure a seamless transition I will be travelling to Port Moresby in the very near term to meet with key stakeholders, to identify a path to the signing of the Pasca A Agreement and subsequent entry to the front-end engineering and design phase of the project.”

Author: 
Loop Author