PETROMIN NEWS
PETROMIN Managing Director & CEO Mr Joshua Kalinoe urges media to be sensitive in reporting on certain investment decisions of the State
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.
Referring to an article in the Post Courier on Friday 22nd August regarding the PNG LNG project, Mr. Kalinoe said the information was from a confidential working document between Petromin and the Trustee Shareholder and therefore its is a privileged document.
The newspaper was not a party to this information nor was authorized to publish it.
“It is regrettable that the Post Courier is not sensitive to the collective commercial interests of the country and the project partners.
“The information is part of the consultative process that Petromin undertook with the State, prior to the signing of the Gas Agreement.
“It was based on Petromin’s independent review of certain sections of the Gas Agreement,” Mr. Kalinoe said.
He said since that advice, the State has executed the Gas Agreement. “The State has exercised its prerogative in good faith, through the NEC, and Petromin respects that decision.” Mr. Kalinoe said.
He said Petromin is now working with relevant agencies of the State, including the Department of Treasury, within the terms of the Gas Agreement to facilitate its entry to the project.
“Consistent with its mandate to participate in petroleum and mineral resource development, Petromin is working with relevant agencies of the State to facilitate its participation in the PNG LNG project including National Gas Corporation, IPBC, Provincial Government and Landowner interests.
Much progress and consultation has been made since then,” Mr Kalinoe said.