Prime Ministers Media Releases
Prime Minister Hon. James Marape, MP on Thursday 07 October 2021, met with the Managing Director and Chief Executive Officer of Santos Limited, Mr. Kevin Gallagher and was briefed on the merger it is pursuing with Oil Search Limited. It was an important opportunity to be briefed on the broad strategic intentions of the company, and its long-term commitments and the specific processes and the expected merger timelines.
“It was important for me to recognise the commercial nature of this merger and the regulatory processes which it is following, and that meeting provided me the basic appreciation of the intentions of this merger and the time lines.”
“Oil Search Ltd has a long association with Papua New Guinea, and while the merger would see a rebranding of the business, the new entity is a much bigger entity. It will provide the much stronger balance sheet for important developments in all the Oil Search and Santos licenses in Papua New Guinea. This is a positive development in terms of Papua New Guinea investment destination aspirations.”
The Prime Minister was also briefed by Santos on their intentions in terms of its high-level governance arrangement, people development and the commercial arrangements, as well as on new energy concepts, future discussions on key matters such as equity following the merger.
“I was especially delighted to hear Santo’s willingness to engage in discussions about the future outlook of the company, because it resonates well with our government’s position to look at key national empowerment interests.”
The Prime Minister attended the meeting with Governor for Southern Highlands, the Honorable William Powi, the Kumul Petroleum Limited Wapu Sonk, and Secretary for the Prime Minister’s Department, Ivan Pomaleu.
“I congratulate Santos on its move to expand its presence in the country. I also look forward to supporting the new entity as I and our successive Governments have done for Oil Search in the past”
- PM MARAPE TELLS MENYAMYA PEOPLE THAT GOVERNMENT IS MORE RURAL-FOCUSED
- PM MARAPE URGES FULL USE OF OPPORTUNITIES PRESENTED WITHIN CLIMATE CHANGE ISSUE
- PM MARAPE URGES MENYAMYA PEOPLE TO HAVE HOPE FOR A BRIGHTER FUTURE
- ACTING PM ANNOUNCES PASSING OF FORMER GOVERNOR-GENERAL SIR SILAS ATOPARE: GOV’T TO HONOR HIM
- PRIME MINISTER MARAPE ARRIVES IN NEW YORK FOR THE 76TH UNITED NATIONS GENERAL ASSEMBLY
- PNG IS QUALIFIED TO TALK ABOUT IMPACTS OF CLIMATE CHANGE AT UNGA AND COP26
- PM MARAPE COMMENDS TREASURER LING-STUCKEY FOR REPORT TO PARLIAMENT
- PM MARAPE OUTLINES MAJOR RESOURCE PROJECTS OF HIS GOVERNMENT
- PM Marape: Public service must not slow down with 2022 General Election
- Pangu Pati makes history by electing first-ever woman National President
- ADDRESS TO THE NATION BY THE PRIME MINISTER OF PAPUA NEW GUINEA HON. JAMES MARAPE MP ON THE OCCASION OF THE NATIONAL DAY OF PRAYER & REPENTANCE, 26 AUGUST 2021
- PM MARAPE URGES CITIZENS TO ASK GOD FOR FORGIVENESS, FORGIVE EACH OTHER FOR WRONGDOINGS
- Prime Minister Marape launches the Managalas Forest Carbon Pilot Project
- MARAPE GOVERNMENT MAKES HISTORY, ALLOWS PAPUA NEW GUINEANS TO HEAR AND SEE FULL PARLIAMENT PROCEEDINGS
- PM MARAPE WELCOMES PASSAGE OF LAWS RELATING TO PUBLIC SERVANTS RESIGNING TO CONTEST ELECTION
- PM Marape clears air on DSIP and COVID-19 funds