The Department of Petroleum and Energy (DPE) has been commended for discussing and highlighting the huge volumes of LNG reserves in the country.
This follows recent press coverage on DPE Acting Secretary, Kepsie Puiye, stressing ‘overwhelming evidence’ that the PNG LNG had the potential to expand.
Puiye has been reported saying here is possibility of a third new LNG with the second LNG, Papua LNG having a potential gas reserves of 6-7TCF (trillion cubic feet) set to begin.
Similar discussions have also been made by Oil Search Managing Director, Peter Botten, and Kumul Petroleum Holdings (KCH) Managing Director, Wapu Sonk, on the reserve of oil and gas in the country recently.
In a statement Head of the Papua New Guinea Extractive Industry Transparency Initiative (PNGEITI), Lucas Alkan, commended Puiye for assuring the country on the economic opportunities ahead.
However he said adequately resourcing the Department has been an issues in the face of a growing industry.
“Findings of the first PNGETI Report indicate DPE is chronically under-resourced and lacking in capacity, and was the subject of a number of priority recommendations submitted to the National Executive Council (NEC) for endorsement,” he said.
“We are happy to inform that the first NEC direction, among ten others to relevant government organisations, required immediate ministerial actions to implement a reliable electronic registry system to supersede the current paper ledger system at DPE.”
“We are positive DPE will make necessary adjustments to put in place robust mechanisms to better coordinate and regulate the lucrative LNG business and of course other petroleum resource development in the country” Alkan added.