About Us

Quick facts

• Incorporated in Papua New Guinea (PNG) in 1929 
• Is PNG's largest oil and gas producer and operates all of PNG's producing oil and gas fields.
• As operator of these fields, in 2008 was responsible for generating 13% of PNG’s Gross Domestic Product and 22% of its export revenue
• Has a 34% interest (pre Government back-in) in the proposed world scale PNG LNG Project, operated by ExxonMobil. PNG LNG is economically robust and is likely to be Asia Pacific's next greenfields LNG development
• Has 2P reserves of 66.9 million barrels of oil equivalent and contingent 2C resources of 886 million barrels of oil equivalent , of which over 580 mmboe will be booked as reserves when the PNG LNG Project is sanctioned
• Is publicly listed on the Australian and Port Moresby Stock Exchanges and trades in the US through the ADR market
• Has a market capitalisation of around US$4 billion
• The Independent State of PNG is the Company's largest shareholder with17.6%. The PNG State's issue of exchangable bonds over its holding to IPIC of Abu Dhabi introduces a potential new shareholder
• Is one of PNG’s largest companies and tax payers.
• Has approximately 1,000 full-time staff and over 1,000 contractors located in PNG, Australia, Yemen and the United Arab Emirates
• Has exploration activities in PNG, Yemen, Libya, Iraq and Tunisia.