K20.9bil contributed to economy

By DANIEL EALEDONA
THE PNG Liquefied Natural Gas (LNG) project brought in K20.9 billion to the national economy since it began in 2014, according to operator ExxonMobil PNG Limited.
PNG Chamber of Mines and Petroleum senior vice-president Richard Kassman told the national content conference in Port Moresby yesterday that the project had contributed a lot to the economy. Of that K20.9 billion, the petroleum project gave about K8.6 billion for its tax compliances, and the same amount to Kumul Petroleum Holdings.
ExxonMobil had also contributed around K1 billion for development levies and paid about K1.6 billion to the Mineral Resources Development Company (MRDC). “The country has the opportunity to transition young people into skilled-labour training for upcoming development projects.
“When a resource project is developed, the demand for goods and services and skilled labour is very high.”
He said the country could engage through the developer’s partners in up-skilling youths in the resource development provinces.
He mentioned trade education training at institutions such as the Port Moresby Technical College and the Don Bosco Technical Secondary School and institute.
Kassman said capturing local work force development and employment opportunities in the national content policy would ensure that the country had the human resources for future resource projects.
Kassman said the reopening of the Porgera mine, and projects including the Papua LNG, Pasca A, P’nyang and Wafi-Golpu would provide employment and business investment and opportunities.
Kassman said there were already PNG experts working in mines overseas.
“If the country creates skilled labour for development projects, these Papua New Guineans could in the future be exposed to international mines and indirectly support the economy of this country.”