Press Releases

2015 Petromin News

November 2015

Press Statement On The Sale Of TGM

"Tolukuma Gold Mine in Central Province is 100% owned by Petromin PNG Holdings Limited and the Petromin Board, which I chair, is solely responsible for the decision to sell the mine, which was based on commercial considerations and nothing else." Sir Brown Bai, Petromin Board Chairman.

Read the Chairman's Statement here

October 2015

Sale Of Tolukuma Gold Mine

On 7 October 2015 the formal exchange of the Share Sale Agreement for the sale of the Tolukuma Gold Mine was conducted at Petromin Haus between Petromin Holdings Limited and a Buyer from Singapore.

Read the press release here

September 2015

Petromin Begins Rightsizing

Petromin Begins Rightsizing as it prepares for it's conversion into Kumul Minerals Holdings Ltd.

Read full story here

January 2015

Abe appointed as new Petromin Chief

Petromin PNG Holdings Limited (Petromin) has a new Managing Director.

Read the full story here

2014 Petromin News

December 2014

Petromin and Nautilus JV on Solwara 1

Petromin and Nautilus JV on Solwara 1 Under Sea Mining Project Kicks Off.

Read Chairman Sir Brown Bai's Address

November 2014

Solwara 1 Vessel Construction

Petromin Joins Solwara 1 Project as State Nominee.

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October 2014

K300 Million paid to the State

Petromin paid more than K300 Million to the state since 2007.

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Gold Sponsor for the PNG Mining and Petroleum Conference

Petromin PNG Holdings Limited supports the PNG Chamber of Mines and Petroleum in hosting the Thirteenth PNG Mining and Petroleum Investment Conference in Sydney.

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Petromin Supports the 2015 Pacific Games

Petromin PNG Holdings Limited appreciates the opportunity to support our upcoming Pacific Games in 2015.

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2011 Petromin News

2010 Petromin News

20 September 2010

Petromin Opens Office in Singapore

Port Moresby; 20th September, 2010. Papua New Guinea’s national oil, gas and minerals company, Petromin PNG Holding Limited, has opened a regional project coordination and marketing office in Singapore.

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17th September 2010

Petromin Staff Urged to Be Innovative

The Managing Director of Petromin, Mr. Joshua Kalinoe has urged the staff of Petromin to be innovative in discharging their responsibilities.
Read More

06 August 2010

Tolukuma Gold Mine supports health and education in the Goilala District

The Tolukuma Gold Mine, a subsidiary of Papua New Guinea’s national oil, gas and mineral company, Petromin, has increased its community support budget to improve the lives of the isolated communities in the Goilala District. The company is concentrating its assistance on water and sanitation projects as well as education of the next generation of Goilala leaders.
Read More

14 July 2010

STAKEHOLDER BRIEFING ON LNG FPSO PROJECT FOR PAPUA NEW GUINEA Opening Remarks By Managing Director & CEO, Petromin PNG Holding Limited

Petromin PNG Holdings Limited has investigated the prospects of introducing the LNG Floating Production Storage and Offloading (FPSO) technology to PNG. The Board and management of Petromin are of the opinion that the LNG FPSO technology would be the fastest means of commercialising the gas resources in PNG, especially for gas fields within the ocean’s proximity with long distance pipeline options to the onshore processing facilities.
Read The Full Statement

13 July 2010

Petromin Signs CDA with International Partners to investigate FPSO technology

Papua New Guinea’s national oil, gas and minerals company, Petromin PNG Holdings Limited, today entered into a Cooperative Development Agreement (CDA) with two international partners, DSME E&R (ENR) a subsidiary of Daewoo Shipbuilding and Marine Engineering (DSME) of South Korea, and Höegh LNG of Norway (HLNG), to investigate the prospects of introducing LNG Floating Production Storage and Offloading (FPSO) technology to Papua New Guinea.

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04 July 2010

Petromin and Mitsui sign MOU to develop opportunities in Gas-Based industries

Papua New Guinea’s national oil, gas & minerals company, Petromin PNG Holdings Limited, has signed an MOU on Friday in Port Moresby with Mitsui & Co Ltd, Japan’s major trading company, to jointly undertake feasibility studies designed to identify and establish new PNG businesses based on the country’s gas resources.
Read Full Statement Here

18 June 2010

Petromin Board Chairman's Statement at the Petromin 2009 Annual General Meeting

Read Full Statement Here

18 June 2010

Petromin Managing Directors Statement at the 2009 Annual General Meeting

Read Full Statement Here

06 June 2010

UPNG Geo Students Gain Field Experience and Training with Petromin

Four fourth year Geology Students of the University of Papua New Guinea are gaining further experience in the field this semester break with Petromin PNG Holdings Limited.
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26th May 2010

Petromin commends National Government for Funding Tolukuma Gold Mine Access Road.

The Chairman of Board of Directors of Petromin PNG Holdings Limited, Mr Brown Bai has commended the Government for honouring its commitment under the MOA between former owner of the Tolukuma Gold Mines Limited, Emperor Mines Limited and the State, in making funds available for the construction of the Tolukuma Gold Mines Access Road.
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19th May 2010

Richard Tengdui joins Petromin Board.

A Senior Papua New Guinea Accountant Richard Tengdui has been appointed to the Board of Petromin PNG Holdings Limited.
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20th April 2010

Petromin PNG Holdings Limited, Papua New Guinea’s national oil, gas and minerals company has entered into a Joint Venture Agreement with Misc Berhard (MISC) to establish a joint venture company (JVC) Western Pacific Shipping Limited.

This JVC will assist Petromin to provide LNG transportation solutions for future LNG projects in support of Papua New Guineas national content plan and to provide other general shipping. Petromin Shipping Limited (wholly owned by Petromin) will have 40 % equity in Western Pacific Shipping Limited while MISC will own 60 percent.
Read Full Story

31st March 2010

Petromin Congratulates InterOil and Mitsui Corporation

The Managing Director and CEO of Petromin, Mr. Joshua Kalinoe has congratulated InterOil and Mitsui Corporation for entering into a Preliminary Commitment Agreement for developing phase one of the Elk/Antelope LNG project, subject to final ratifications.
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29th March 2010

Petromin signs Principle Agreement with Japan Petroleum Exploration Co., Ltd (Japex)

Papua New Guinea ’s national, oil, gas and minerals company Petromin PNG Holdings Limited(Petromin) has entered into a long-term strategic partnership arrangement with Japan Petroleum Exploration Co., Ltd (Japex).
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28th March 2010

Petromin Brings Smiles to the Blind with Donation of K3000 worth of equipment

The children, staff, volunteers and blind clients of St John Blind Service are celebrating after receiving the donation of office equipment to the value of over K3000  by Petromin PNG Holdings Limited.
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28th February 2010

Prime Minister says State Agencies will assist Petromin in Elk/Antelope Project Financing

The Prime Minister Sir Michael Somare said that the State and its agencies will work with Petromin PNG Holdings Ltd to assist the company, as the State Nominee, fund the State’s equity in the Elk/Antelope LNG project.
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26th February 2010

Much Need Bed Sheets and Pillows for Sick Children and Mothers at Wewak Hospital, Thanks to Petromin Donation

The sick children of Wewak Hospital will be able to sleep a little bit better, thanks to a donation of over K3000 worth of pillows, double spread bedsheets and pillow cases by Petromin PNG Holdings Limited.
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25th February 2010

Prime Minister commends Petromin for robust exploration activity

The Prime Minister Grand Chief Sir Michael Somare is pleased that Petromin is emerging as a leader in developing its mineral tenements through green field exploration.
In an address to the Petromin Board of Directors, the Prime Minister said he was extremely pleased to learn that the Petromin Board and Management have allocated around K6 million this year for exploration of the company’s mineral tenements within the vicinity of the Tolukuma Gold Mine and regional tenements.
Read Full Story

19th January 2010

Antelope-2 Appraisal Well Intersects Potential Oil Zone

Managing Director of Petromin PNG Holdings Ltd, Joshua Kalinoe today announced the intersection of a potential oil zone in the lower part of the Antelope Reef reservoir within the Antelope-2 appraisal well, in the Gulf Province of Papua New Guinea
Read Full Story

2009 Petromin News

23rd December 2009

Statement by the Managing Director of Petromin

10th December 2009

PNG Government commended for making Strategic Investment Decisions

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8th December 2009

PNG LNG Project Project Sanctioned

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23rd November 2009

Pacific Adventist University Students Urged to Be Good Stewards

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1st November 2009

Facts About Petromin

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16th April 2009

Petromin and InterOil Sign HoA with CNOOC

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3rd April 2009
Petromin Announces New Board Member Ian Goddard.

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2nd April 2009

Petromin Donates Computer to Badilli Police

Petromin came to the aid of their local police force at Badilli with a donation of a computer and Color printer.
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18th March 2009
Petromin MD Joshua Kalinoe congratulates InterOil Corporation for appointing two international banks as joint financial advisors to the InterOil project.

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17th March 2009
Petromin Donates to 11 year Old Jesuit Kumbra's Heart Operation Fundraiser

Petromin PNG Holdings Limited recently donated K1,000.00 to Jesuit Kumbra, a young 11 year old boy with a hole in the right valve of his heart.
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6th March 2009
Muri bin Muhammad appointed to the Petromin Board

Petromin Chairman Brown Bai announces appointment of Mr Muri bin Muhammed to Petromin Board.
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5th March 2009
Statement By Joshua Kalinoe, Managing Director And CEO of PETROMIN on Granting of Location

2nd March 2009
Statement By Joshua Kalinoe, Managing Director And CEO of PETROMIN on The Occasion of Flaring Antelope One Gas Well

26th February 2009
Petromin Pushes Ahead with Tolukuma Road Project

Petromin PNG Holdings is committing funds and equipment to build the planned access road from Tolukuma to Fane in the Central Province.
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23rd February 2009
Petromin Pursues Aggresive Mining Exploration and Development Program

Petromin PNG Holdings Limited is aggressively pursuing exploration and development programme for its entire exploration licences in its mining business.
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28th January 2009
Petromin Assists Port Moresby Gen Hospital Physio Unit

Petromin recently came to the assistance of the Port Moresby General Hospitals excellent Physiotherapy unit through the donation of an electronic hot plate, a ceiling fan, towels, chairs and other supplies.
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2008 News

17th November 2008
Petromin Withdraws Judicial Review Through Consent

Petromin PNG Holdings Limited has withdrawn the Judicial Review seeking declaratory and injunctive Orders on the nomination of IPBC as the State Nominee in the PNG LNG project.
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5th November 2008
Petromin Goes to Court Over State Nominee

Petromin PNG Holdings Limited has filed judicial review documents in the National Court at Port Moresby, seeking declaratory and injunctive orders and to allow for the due process of nomination under the Petromin Act for the Nomination of the State Nominee to be complied with, in appointing a State Nominee for the PNG LNG Project.
Read Full Story

5th November 2008
Petromin Serves Notice of Direction on IPBC

Petromin PNG Holdings Limited has served a Notice of Direction on IPBC under the relevant provisions of the Petromin Act to transfer the 17.56% shares in Oil Search Limited held by IPBC to Petromin.
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30th October 2008
Petromin Signs Agreement with InterOil for Participation in Elk-Anetlope gas fields

Petromin PNG Holdings Ltd has signed an Investment Agreement with InterOil Corporation for a direct participation in PPL 238 and particularly in the development of the Elk-Antelope gas fields.
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21st October 2008
Dr Bruce McConaghy appointed General Manager for Commercial & Strategic Planning - Petromin

Petromin PNG Holdings Limited is pleased to announce the appointment of Dr Bruce James McConaghy as the company’s new General Manager for Commercial & Strategic Planning
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8th August 2008
Sir Peter Barter Joins Petromin Board

The Chairman of Petromin Board Mr. Brown Bai has welcomed the appointment of Sir Peter Barter (D. Univ), Kt, OBE to the Board of Petromin.
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5th August 2008
Petromin CEO and Managing Director urges responsible reporting by the media

The Managing Director and CEO of Petromin, Mr. Joshua Kalinoe has urged the media to be sensitive in their reporting about certain investment decisions of the State.
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5th July 2008
Petromin enters JV with Papuan Precious Metals

Petromin PNG Holdings Ltd has signed a 50 percent joint venture farm-out deal with Papuan Precious Metals Limited to carry out exploration in one of its regional tenements at Waria River , in the Garaina area (EL 1271).
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16th June 2008
Petromin Funds Independent Environment Study of Auga and Angabanga Rivers

Petromin PNG Holdings Limited is funding a Scientific Team to conduct an independent assessment of alleged environmental impact of the Tolukuma Mine on populations around the site and downstream communities along the Auga and Angabanga Rivers.
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5th June 2008
Petromin Commences Feasibility Study on the
Tolukuma Mine–Goilala Highway

Petromin PNG Holdings announced today that PNG Sustainable Infrastructure Limited, a subsidiary of the PNG Sustainable Development Program Limited has been selected as the Engineering Consulting Group to undertake the feasibility study of the proposed road project that will connect the Tolukuma Mine to the existing
Tapini Highway and Port Moresby.
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28th May 2008
Petromin's Senior Marketing Officer Sihl Ure recieves LNG training in Japan.

Petromin's Senior Marketing Officer, Mr. Sihl Ure has returned from six weeks training with LNG Japan, one of the largest LNG trading companies in Japan.
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28th May 2008
Experienced Geologist & Former Head of Mining and Energy Department, William Searson joins Board of Petromin.

His wealth of experience and vast knowledge of the resource potential of PNG will be of great value to the Petromin decision making process.
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1st May 2008
Petromin Graduate Trainee Program Begins

The strategic management and training of graduate trainees is important in addressing the chronic skill shortage affecting the industry in PNG and the Asia Pacific Region.
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7th May 2008
Eda Oil Announces K31 milion after tax profit for 2007

Petromin PNG Holdings Limited is pleased to announce the operating results of Eda Oil Limited for the year ended 31st December 2007.
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30th April 2008
Jack Sari Joins Petromin as Chief Exploration Geologist

One of Papua New Guinea’s most experienced geologist, Jack Sari has joined Petromin PNG Holdings Limited as the company’s Chief Exploration Geologist.
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30th April 2008
Petromin Strenghtens Managment Team

Petromin PNG Holdings Limited is ready to pursue investment opportunities in the resource sector, thanks to an aggressive and open recruitment strategy that has seen well qualified and experienced professionals join the company.
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18th April 2008
Petromin Will Review Waste Management Process at Tolukuma Gold Mine

Petromin, Papua New Guinea’s national oil, gas and minerals company has announced that it will review the waste management processes at its Tolukuma Gold Mine, about 100 miles out of Port Moresby, immediately after it officially takes over the mine on 21st February 2008.
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