Prime Minister Hon. James Marape has commended TotalEnergies and its partner Petronas for their continued confidence in Papua New Guinea, following the commencement of a major offshore oil and gas exploration campaign near Kupiano in Central Province.
Prime Minister Marape said the arrival of the drilling vessel Viking and the start of offshore drilling operations demonstrated that Papua New Guinea remained an attractive destination for global energy investment.
Today, Minister for Petroleum Hon. Jimmy Maladina represented the National Government aboard the Viking drilling vessel, where he joined project partners and stakeholders to mark the commencement of the exploration programme.
Prime Minister Marape said the campaign represented a significant investment in the country’s future, with TotalEnergies and Petronas committing US$100 million to US$200 million towards offshore exploration activities.
“The presence of the Viking offshore near Kupiano is a strong signal of confidence in Papua New Guinea’s resource potential,” Prime Minister Marape said.
“I commend TotalEnergies and Petronas for continuing to invest in our country, not only through the development of existing projects but also through exploration that could unlock the next generation of oil and gas resources.
“Exploration is the foundation of our resource sector. Without exploration there can be no new discoveries, no new projects, no new jobs and no future revenue streams for our people.”
Prime Minister Marape noted that while attention remained focused on major developments such as Papua LNG and the P’nyang Gas Project, continued exploration was essential to sustaining long-term growth in the petroleum sector.
“Our resource industry must continue to grow beyond the projects we know today. Companies that invest in exploration are investing in Papua New Guinea’s future and helping to create opportunities for generations to come.”
The Prime Minister said the offshore drilling programme also highlighted the importance of maintaining a stable and competitive investment environment that encourages companies to commit capital to high-risk exploration activities.
“Deep-water exploration requires substantial investment, advanced technology and confidence in the future of our country. We welcome this commitment and look forward to the results of the programme.”
Prime Minister Marape said the National Government would continue working closely with industry partners to ensure that resource development delivered benefits for Papua New Guinea while encouraging further exploration and investment across the country.