Port Moresby, Papua New Guinea (March 12, 2025) – Exciting changes are underway for Papua New Guinea’s oil and gas industry! On March 11, the Parliament passed the National Petroleum Authority Bill 2025 with unanimous support. This bill establishes a new regulatory body, the National Petroleum Authority (NPA), which will take over from the Department of Petroleum and Energy (DPE).
So, what does this mean for the industry? By creating the NPA, the government aims to tackle long-standing issues with regulation and administration that have caused inefficiencies in the sector. With a dedicated authority now in place, the hope is to simplify processes, improve governance, and boost confidence among investors and industry players.
A spokesperson from the Ministry of Petroleum highlighted that the NPA will be responsible for enforcing the Oil and Gas Act 1998 and the Unconventional Hydrocarbons Act 2015, bringing the country’s regulations up to speed with global standards.
This move is about more than just changing the name on the door; it’s a signal that Papua New Guinea is committed to creating an investor-friendly environment. With a more transparent and efficient regulatory framework, the expectation is that we could see increased activity in the oil and gas sector, which could be a huge boost for the country’s economy.
As it stands, the NPA Act will officially kick off once the commencement notice is published in the National Gazette. It’s an exciting time for Papua New Guinea, and many are looking forward to the positive changes this reform will bring!
RELATED POSTS:
Time is Money: Why Homeownership Can't Wait. Don't delay homeownership! Property values rise, rent is lost, and equity grows. Start now for financial freedom.
Samuel, a young father and husband, is battling a brain tumor and needs your help. He needs urgent surgery to remove a growing brain tumor. Seizures are becoming more frequent, and he’s racing against the clock. Donate now to give him a chance at life. Help and give him the chance to see his children […]
Seeking Kind Donation: Help Francesca’s mom get life-saving heart surgery in the Philippines. Read more and support! Seeking Donation! Mom Needs Help to Get Life-Saving Heart Surgery in the Philippines – Update. by Francesca Digori Hi everyone, As some of you may know, I recently shared a bit about a personal challenge my family is […]
