Benefit-sharing talks

BENEFIT sharing will be a subject of discussion at a community affairs and national content conference (Canconex) during the Papua New Guinea Resources Week next month.
PNG Chamber of Resources and Energy president Anthony Smare said benefits derived from projects and how they were applied were questions that many were still yet to fully understand.
“To shine the light on this area, a specific session on benefit sharing structures will be presented on day one of PNG Resources Week at Canconex, featuring ExxonMobil PNG (EMPNG), Mineral Resources Development Company (MRDC), Kumul Petroleum Holdings Limited (KPHL) and Newmont Corporation, with each organisation providing an insight into how benefit sharing is implemented through their respective projects,” Smare said.
“EMPNG, operator of the PNG LNG project, will be providing an overview of benefits to the State over the last 10 years since first its liquefied natural gas (LNG) shipment.
“This will include a break-down of how proceeds derived from the sale of LNG is distributed to all stakeholders, particularly at the community level, as well as the initiatives the project has initiated to ensure communities are self-sustaining, now and into the future.
“Similarly, MRDC and KPHL will also provide an overview of their benefit sharing and management structures, outlining how its benefit sharing activities are implemented for communities across the length and breadth of communities where it holds the State’s
equity,” he said. “Their presentations will also highlight initiatives both organisations have taken to ensure that remains relevant to the ever-changing business environment.
“Participants will also hear from Newmont Corporation, operators of the Lihir Gold Project, who have over the years had a successful benefit sharing structure, that has enabled Lihir landowner organisations to expand and diversify their operations not only in New Ireland, but also to other parts of PNG,”Smare said.