PM O’Neill Applauds Growing Participation and Investor Confidence at the 13th Mining and Petroleum Conference

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The Prime Minister, Hon. Peter O'Neill CMG MP, has applauded this year's attendance at the 13th Papua New Guinea Mining and Petroleum Investment Conference.

He said the increased participation, from a larger number of countries, is an indication of stronger interest and confidence in the mining and petroleum sector in Papua New Guinea.

PM O'Neill acknowledged that the mining, oil and gas sectors are currently experiencing an unprecedented period of activity and growth.

"With this year's conference theme 'PNG Resources – Expanding Horizons,' I would like to reiterate and acknowledge that our resources sector is at an all-time high with great potential for continued expansion," the Prime Minister said.

"The construction phase of the world-class PNG LNG Project has been successfully completed and the first production was delivered to Japan well before the anticipated date of delivery.

"Our discussions with investors and other representatives have been positive.

"Project developers have increased confidence in Papua New Guinea and we will continue to maintain the policy and process certainty that the business community requires.

"We need to move to the next stages of the development of our mineral resources, and ensure the benefits are shared throughout the nation."

He said national economic growth will continue through the public and private sectors continuing to work together on current and future projects.

"Papua New Guinea remains a sound and secure nation in which to invest and to do business.

"My message to this conference has been clear.

"We can and we must build on our success in the resources sector, and to do this we need high quality overseas investment, management and expertise.

"Our nation welcomes new partners to help us in building a strong, secure and harmonious Papua New Guinea."

The Prime Minister said the conference has been well organised and of great benefit to business and government representatives who are attending.

The 13th Papua New Guinea Mining and Petroleum Investment Conference is taking place in Sydney, Australia, from December 1 to 3.

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