Expanding Opportunities in Papua New Guinea’s Energy Sector at PNG Expo

The upcoming PNG Expo in Port Moresby will provide vital networking opportunities for the energy sector, underscoring PNG’s economic growth driven by resources. Major companies like Santos are expanding gas production, with projects like Angore showcasing the region’s abundant resources. The event highlights a thriving industry ripe with potential for suppliers and contractors.

The energy sector in Papua New Guinea (PNG) is burgeoning, presenting numerous opportunities for suppliers and contractors. The Papua New Guinea Industrial and Mining Resources Exhibition and Conference (PNG Expo) will take place at the Stanley Hotel in Port Moresby on July 2-3, providing a networking platform for resources companies to expand their business in this promising region. The event will feature a curated exhibition and a comprehensive speaker program alongside numerous networking opportunities for delegates.

Prominent exhibitors such as Metso, Blackwoods, Sandvik, Dreager, Lincom, and Putzmeister have secured their participation, with additional exhibitors expected. Notably, TriCab, a top supplier of performance flexible cables and accessories, has confirmed its sponsorship renewal for 2025, underscoring strong engagement in the PNG market.

The resources sector has been pivotal in driving economic growth in PNG since the 1900s, yielding significant quantities of gold, copper, silver, nickel, oil, and gas. Currently, a joint venture between industry leaders, including Santos and ExxonMobil, is advancing the Angore gas development, which intends to tap a natural gas resource estimated at one trillion cubic feet, facilitating long-term LNG production in PNG.

PNG LNG production commenced in April 2014, achieving over 83 million tonnes of LNG supplied to the Asian market, supported by an investment exceeding $19 billion. The project has surpassed its nominal capacity by an impressive 30% after ten years of operation, marking a notable achievement in the region’s energy landscape. Santos Chief Executive Officer Kevin Gallagher emphasized that the production success at Angore highlights the wealth of gas resources available in Hela province.

Santos is also pursuing several other gas development projects, including promising associated gas resources from Agogo and Moran, expected to yield an additional 125 mmscf per day by 2026. Furthermore, ongoing drilling at the Hides Footwall well could potentially add another 160 mmscf per day to the supply. The gas fields of P’nyang, Muruk, and Juha remain significant assets to support PNG LNG’s ongoing production. Gallagher noted that Santos and PNG LNG are positioned favorably, with numerous upstream development options available to maintain robust LNG infrastructure.

The PNG Expo presents a critical opportunity for suppliers and contractors in the energy sector, amid a flourishing resources industry in Papua New Guinea. With significant investment and successful projects underway, such as the Angore gas development and ongoing expansions in gas production, the region is well-equipped to meet global energy demands. The enthusiastic participation of industry leaders reinforces PNG’s potential as a key player in the global energy market.

Original Source: www.pipeliner.com.au