Twinza Appoints Board Chairman

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.

Twinza given deadline

Minister Kua said the State also requests that all parties with the requisite authority to close the Pasca A deal must be present in Papua New Guinea by October 15th 2021.

He said the disparaging statements made against the State are with the view to discourage the name and credibility of the government. Hence with the advise and assistance of the State Solicitor, the State Negotiating Team drafted a Confidentiality and non-disclosure agreement to Twinza to sign.

Kua Warns Resource Company

He made this call during Parliament today when questioned by Gulf Governor, Chris Haiveta on the update on the formal agreement signing of the Pasca A project.

Governor Haiveta raised concerns that his Provincial Executive Council members have been coming to Port Moresby for three consecutive times for the signing, which never eventuated.

“We came for the signing but no paper to sign so we left,” Mr Haiveta said.

He further alluded to a statement released by Twinza recently questioning the deals by the State Negotiating Team.

Gov’t Put On Notice

The Government and Twinza agreed final terms for the Pasca A Gas Agreement, which were reflected in an agreement that both parties committed to use. Negotiations was completed last month and signing is pending.

The Gas Agreement delivers all of the Government’s stated objectives from the project and provide the highest State take of any resource development in PNG, with over 60 per cent of project value (55 per cent nominal State take) as announced by Minister Kua on July 13,