Prime Minister Hon. James Marape refreshed Papua New Guinea’s connection with important LNG partner, Eneos Xplora Inc., formerly JX Nippon Oil and Gas Exploration Corporation.
Prime Minister Marape met with Representative Director and Chair of the company, Toshiya Nakahara, and his team in Tokyo this week as part of his efforts to engage directly with Japanese companies with business operations in Papua New Guinea.
Eneos Xplora, which until recently was known as JX Nippon Oil and Gas Exploration Corporation, is a foundational partner in the PNG LNG project and continues to maintain interest in the upcoming Papua LNG project.
Prime Minister Marape used the opportunity of the meeting to invite business partnership from Eneos with State holding companies, Kumul Mineral Holdings Limited or Kumul Petroleum Holdings Limited.
He said, “I want to ask you to be a good support to Kumul Petroleum Holdings and Kumul Minerals Holding. We are restructuring the companies to be major partners with investors overseas so that they bring to the table the security of the country.
“As we look forward to life beyond 50 years, we ask that you do not fear some of the reforms we do as we will make sure our investors make a return on their investments.”
The Prime Minister also reached out to other Japanese companies to partner in the government’s subsidiary businesses, and also to venture into exploration of minerals and gas in the country.
He reassured investors of reforms to secure the investment environment which is happening in the courts system with the introduction of international arbitration to assist in independence of dispute resolution.
PM Marape also mentioned the present engagement with Japan Bank for International Cooperation for added support to Japanese investors and asked that with Eneos Xplora’s familiarity of PNG because of its presence, the company continue to increase its engagement in the country.
Eneos Xplora is engaged in the development and production of oil and natural gas both domestically and internationally, functioning as a core operating entity within the ENEOS Group, the largest energy, resources, and materials corporation in Japan.