PNG NEWS BLOG

  LARGEST SCAM IN PNG HISTORY by  SAM J KAUPA Source link:  PNGBLOGS THE DEMISE OF OROGEN MINERALS AND THE EMERGENCE OF OIL SEARCH HIGH VALUED PNG COMPANY - OROGEN MINERALS WAS MERGED WITH UNKNOWN AUSTRALIA’S OIL SEARCH TO ACCESS HIGH VALUED PNG MINERALS AND HYDRO CARBON ASSETS – UNDER THE PRETEXT OF THE NOW BOTCHED PNG TO QUEENSLAND GAS PIPELINE PROJECT WITH EXXON MOBIL. Mineral Resources Development Company Limited (MRDC) was established in 1975 and was 100% owned by the Government of Papua New Guinea. It was initially established as the State Nominee to acquire the State and Landowner equity interests in mining and petroleum projects and to manage the equity funds for landowner companies from the major resource development areas of PNG. In 1996, during Sir Julius Chan’s term as PM, the major interests of MRDC were partially privatised, through the creation of Orogen Minerals Limited (OML), of which the MRDC held a 51% controlling shareholding. In April 2002 during the Somare reign,

PM MARAPE INVITES JAPANESE COMPANY SOJITZ TO INVEST IN PNG LNG Approved For Release: September 29, 2022 - Marape Rosso Government. Prime Minister Hon. James Marape has invited leading Japanese company Sojitz Corporation into the upstream and downstream processing of liquefied natural gas (LNG) in Papua New Guinea. He made the invitation to Sojtiz during a meeting with President and CEO, Masayoshi Fijumoto, and his delegation in Tokyo on Tuesday (September 27, 2022) during his one-day visit to attend the state funeral of former prime minister Shinzo Abe and bilateral meeting with current Prime Minister Hon. Fumio Kishida. PM Marape – who was accompanied by International Trade and Investment Minister Hon. Richard Maru, East Sepik Governor Hon. Allan Bird and PNG Ambassador to Japan H.E. Samuel Abal – said the Government would make land available for Sojitz to come into PNG in a big way. PM Marape said Sojitz had been wanting to venture into downstream processing of LNG in PNG, as well as