Companies Holding Petroleum Licenses Under the Oil and Gas Act of 1989: The Major Players

Papua New Guinea (PNG) is a country rich in natural resources, and its oil and gas industry has been a significant contributor to the country's economy for several decades. The Oil and Gas Act of 1989 regulates the exploration, development, and production of petroleum resources in PNG. Several companies hold petroleum licenses under this act, and in this article, we will take a closer look at these companies, the nature of their business, and when they obtained their licenses.

ExxonMobil PNG Limited is a subsidiary of ExxonMobil, one of the world's largest publicly traded international oil and gas companies. ExxonMobil PNG Limited holds several petroleum licenses in PNG, including the PRL 15 license, which covers the Hides gas field in the Southern Highlands Province. ExxonMobil PNG Limited obtained this license in 2000, and the Hides gas field has since become one of the largest and most significant gas fields in PNG.

Oil Search Limited is another significant player in PNG's oil and gas industry. The company holds several petroleum licenses in PNG, including the PRL 3 license, which covers the Kutubu oil field in the Southern Highlands Province. Oil Search Limited obtained this license in 1991, and the Kutubu oil field has since become one of the largest and most significant oil fields in PNG.

Total E&P PNG Limited is a subsidiary of TotalEnergies, a French multinational integrated oil and gas company. The company holds several petroleum licenses in PNG, including the PRL 15 license, which it shares with ExxonMobil PNG Limited. Total E&P PNG Limited obtained this license in 2000 and has since been involved in the development and production of the Hides gas field.

Santos PNG Limited is a subsidiary of Santos, an Australian energy company. The company holds several petroleum licenses in PNG, including the PRL 3 license, which it shares with Oil Search Limited. Santos PNG Limited obtained this license in 1991 and has since been involved in the development and production of the Kutubu oil field.

Kumul Petroleum Holdings Limited is a state-owned oil and gas company in PNG. The company holds several petroleum licenses in PNG, including the PRL 21 license, which covers the Stanley gas field in the Western Province. Kumul Petroleum Holdings Limited obtained this license in 2009 and has since been involved in the development and production of the Stanley gas field.

Horizon Oil Limited is an Australian oil and gas company that holds several petroleum licenses in PNG, including the PRL 21 license, which it shares with Kumul Petroleum Holdings Limited. Horizon Oil Limited obtained this license in 2009 and has since been involved in the development and production of the Stanley gas field.

Twinza Oil Limited is an independent oil and gas company that holds several petroleum licenses in PNG, including the PRL 28 license, which covers the Pasca A gas-condensate field in the Gulf Province. Twinza Oil Limited obtained this license in 2011 and has since been involved in the development and production of the Pasca A gas-condensate field.

Barracuda Limited is a subsidiary of ASX-listed Oilmin Holdings Limited, an oil and gas exploration and production company. The company holds several petroleum licenses in PNG, including the PRL 21 license, which it shares with Kumul Petroleum Holdings Limited and Horizon Oil Limited. Barracuda Limited obtained this license in 2009 and has since been involved in the development and production of the Stanley gas field.

Mayur Resources Limited is an ASX-listed company that holds several petroleum licenses in PNG, including the PPL 560 license, which covers the South Western Peninsula Basin in the Gulf Province. Mayur Resources Limited obtained this license in 2016.

Location: Waigani, Port Moresby, Papua New Guinea

Comments

Post a Comment

Popular posts from this blog

PNG Constitution and Vote of No Confidence: Section 145

Image
In Papua New Guinea, the vote of no confidence and the motion of no confidence are crucial tools for elected representatives to ensure that the government represents the interests of the people. This article aims to explain the significance of these mechanisms, how they work, and why they are essential for Papua New Guinea's democracy. By understanding these processes, readers can gain a deeper understanding of Papua New Guinea's political system and the importance of holding elected officials accountable. A vote of no confidence, also known as a motion of no confidence, is a crucial mechanism used to remove the Prime Minister or any other minister from power. This constitutional provision is outlined in Section 145 of the PNG Constitution, which states that "The Prime Minister shall be elected by members of the Parliament from among their number, and shall hold office during the pleasure of Parliament." However, if members of Parliament are dissatisfied with the ...
Read more

Understanding the Roles of Legal Offices in Papua New Guinea: Public Solicitor, Public Prosecutor, State Solicitor and Solicitor General

Image
The legal system in Papua New Guinea (PNG) consists of a range of legal offices that are established to provide legal services to the public and to the government. These legal offices include the Public Solicitor, Public Prosecutor, State Solicitor, and Solicitor General. Each of these offices plays a critical role in the legal system and serves a unique purpose. In this article will explore each of these legal offices and their roles in PNG. Public Solicitor The Public Solicitor is an office established under the Section 176 of the PNG Constitution. The office is responsible for providing legal aid to the poor and disadvantaged people in PNG who cannot afford legal representation. The Public Solicitor has the power to provide legal representation in criminal cases, civil cases, and appeals. The office also provides legal assistance in administrative law matters and assists clients in navigating the legal system. The Public Solicitor's role is critical in ensuring that ever...
Read more

Understanding Key Court Terms: Orders, Judgements, Verdicts, Rulings, Directions, and Precedents

Image
  The legal system relies on a variety of terms to convey important information about court proceedings and decisions. Understanding the meaning of these terms is essential for anyone involved in a legal matter, whether as a party to a case or simply as an interested observer. In this article, we will explore six important court terms: court order, court judgement, verdict, court ruling, court direction, and court precedent. Court Order A court order is a directive issued by a judge or court that requires a party to take a certain action or refrain from taking a certain action. Court orders can be issued for a wide range of purposes, such as to compel a party to produce evidence, to grant a restraining order, or to enforce a judgement. Violating a court order can result in serious consequences, such as fines or even imprisonment. Court Judgement A court judgement is a formal decision made by a court at the end of a trial or other legal proceeding. A judgement can be entered...
Read more