AGP Executive Report

Papua LNG Deal Shake-up: TotalEnergies says Papua LNG has cleared key steps toward a final investment decision, including transferring operatorship to ExxonMobil and selling a 9.1% stake to partners after Kumul Petroleum’s back-in; the project’s capex is now about US$14bn and ExxonMobil will run both Papua LNG and PNG LNG. Santos Ups Stake: Santos will buy an extra 3.3% from TotalEnergies for about US$189m, lifting its interest to 21% and boosting its equity LNG output by around 19%, with FID still targeted for Q4 2026. KPHL Governance Boost: Kumul Petroleum Holdings secured stronger state protections in the LNG marketing agreement, including unanimous consent for key pricing decisions and tighter governance around Lakatoi Marketing. Public Finance Digitisation: PNG signed a three-year K26m deal with TechnologyOne to support and expand its integrated financial management system nationwide, adding cybersecurity, optimisation and new AI-style tools for public servants. Financial Inclusion Push: Digicel PNG backs the 2026 AFI Global Policy Forum in Port Moresby, while UFL handed out K51,000 in Independence cash prizes to 81 customers. Education Reform Reality Check: A reform plan for PNG’s new 1-6-6 education structure is flagged as needing real funding for ECE facilities, teachers and safe learning environments—not just renaming. Security and Roads Warning: Analysts warn that expanding road links without security upgrades could worsen crime, trafficking and tribal conflict. Air Niugini Independence Promo: Air Niugini is offering 51 free return fares for the 51st Independence anniversary. Local Business & Community: Ok Tedi’s Misima Project talks in Milne Bay focus on feasibility, environmental and social impact work and local participation. Sports as Business Pathway: The PNG Chiefs’ NRL entry in 2028 is framed as a long-term national development pathway backed by AU$600m from Australia.

Papua LNG Deal Update: Santos is set to lift its Papua LNG stake to 21% by buying an extra 3.3% from TotalEnergies for about US$189m, as TotalEnergies transfers operatorship to ExxonMobil ahead of a Final Investment Decision targeted for Q4 2026. Operatorship & Ownership Shuffle: TotalEnergies will sell a 9.1% stake to partners (post Kumul back-in) while keeping 20% and its LNG offtake, leaving ExxonMobil with operatorship and a larger share. State Protections in Marketing: Kumul Petroleum Holdings says an amended marketing agreement with TotalEnergies strengthens PNG governance, including unanimous consent for key pricing matters and protections for state commercial interests. Public Finance Digitisation: PNG signed a three-year K26m deal with TechnologyOne to support and expand its Integrated Financial Management System nationwide, including cybersecurity, cloud services and an AI “plain language” tool for financial records. Consumer & Competition Oversight: PNG’s ICCC launched its 2026–2030 corporate plan, prioritising consumer protection, competition enforcement and targeted support for women and disadvantaged consumers. Urban Security Warning: Commentary flags that road expansion under Connect PNG must come with security upgrades, or new corridors could fuel crime and tribal violence. El Niño Watch: Climate reporting says the 2026–27 El Niño is strengthening, with sea temperatures far above prior record events—raising risks for Pacific weather and fuel, water and food pressures.

Papua LNG Deal Moves Closer to FID: TotalEnergies says it has cleared key hurdles for a Final Investment Decision, cutting Papua LNG estimated capex to about US$14b and securing nearly US$4b in savings since 2024. Energy Governance: TotalEnergies will sell a 9.1% stake to partners (after Kumul Petroleum back-in) and hand operatorship to ExxonMobil, with Exxon taking over as operator while TotalEnergies keeps 20% and its LNG offtake. Santos Ups Stake: Santos executed a deal to buy an extra 3.3% interest, lifting its total to 21% and boosting its equity LNG output. Regulator Focus: PNG’s ICCC launched its 2026–2030 Corporate Plan, prioritising consumer protection, competition enforcement and economic regulation, with special attention to women and disadvantaged consumers. Digital Push: NICTA declared PNG ready for commercial 5G, clearing the way for operators to roll out services using 2.6GHz and 3.5GHz spectrum. Urban Pressure: Port Moresby faces rising overcrowding, unemployment and informal trading, with calls for better planning and lawful, humane solutions. Disaster Readiness: Health and emergency services minister urges PNG to shift from reactive disaster response to preparedness, early action and risk reduction. Landowner Consultation Clash: Opposition leader James Nomane says the Papua LNG Development Forum should be returned to project provinces and districts to comply with the Oil and Gas Act. Business & Tech: Digicel Pacific selected Techtel to upgrade PNG’s TV head-end platform for free-to-air and encrypted pay services. Safety Incident: A crocodile attack at Adventure Park in Port Moresby killed a handler after he was dragged into a pool.

ICCC Corporate Plan: Papua New Guinea’s Independent Consumer and Competition Commission has launched its 2026–2030 corporate plan, sharpening focus on consumer protection, competition enforcement and economic regulation, with special attention on women and disadvantaged shoppers. Papua LNG Push: TotalEnergies says Papua LNG has cleared key milestones toward a Final Investment Decision, including completed EPC tendering, nearly K4bn savings since 2024, and an amended gas agreement; the government is also offering improved terms if partners lock in FID by 15 December. LNG Marketing Governance: Kumul Petroleum Holdings secured stronger governance and state protections in the Papua LNG marketing deal, including unanimous consent for reserved matters like pricing and added safeguards for state interests. 5G Ready: NICTA has cleared the way for commercial 5G services, giving operators regulatory certainty to start rolling out using the 2.6GHz and 3.5GHz spectrum bands. SEZ Bottlenecks: Special Economic Zone development is being slowed by land access and ownership plus infrastructure and utilities, with five licensed SEZ projects worth about K10.7bn still progressing toward full operations. Urban Pressure: Port Moresby is facing rising migration, unemployment and overcrowding, with calls for lawful, humane and sustainable planning rather than just removing people. Digital TV Upgrade: Digicel Pacific has selected Techtel to replace its PNG TV head-end platform, supporting both free-to-air and encrypted pay services. Disaster Readiness: Health and emergency officials warn PNG must shift from reactive disaster response to preparedness, early action and better provincial planning. Landowner Fight Over Consultations: Opposition Leader James Nomane says Papua LNG consultations are being compromised and wants the development forum moved back to project provinces and districts, with landowner representation aligned to the Oil and Gas Act. Climate Risk: Pacific communities are being urged to prepare for a strengthening El Niño that could bring drought in some areas and heavier rain in others, stressing water and food security. Sports & Youth Leadership: Southern Highlands has formed a kickboxing association, while a new Wāhine Toa Oceania cohort opens applications for retired Pacific female athletes to build leadership skills.

5G Rollout: PNG’s telecom regulator NICTA has cleared the way for commercial 5G by making the 2.6GHz and 3.5GHz spectrum available for licensing, giving operators regulatory certainty to plan deployments (initial focus expected in urban areas). Energy & Investment: PNG has offered TotalEnergies-led Papua LNG partners improved terms, but only if a Final Investment Decision is locked in by 15 December, with the minister calling it a “drop-dead deadline.” Security & Crime: PNG police say a Cook Islands widow in Milne Bay was arrested after 150 pieces of C-4 plastic explosives, detonators, ammunition and a sniper rifle were seized following a robbery investigation. Local Business & Jobs: Bahma Recruitment Services has opened a new Port Moresby office to expand into PNG LNG, power, mining, construction and corporate hiring. Finance & Inclusion: Westpac PNG has signed on to the Empower Finance Code, while Solomon Islands’ CBSI governor was appointed vice chair of the Pacific Islands Regional Initiative, pushing digital finance and financial inclusion. Governance & Law: PNG’s first female Public Prosecutor, Helen Roalakona, was sworn in, with the Law Society highlighting the need for independent, ethical prosecution. Tourism & Culture: Air Niugini and WR Carpenters Group are backing the Hiri Moale Festival, including prizes and logistics support tied to the Hiri Hanenamo quest. Climate Risk: Pacific communities are being urged to prepare for a strong El Niño that could bring drought in some areas and heavier rain in others, stressing safe water and child health.

PNG LNG Consultations: Opposition Leader James Nomane demands the Papua LNG Development Forum be relocated back to project provinces and districts, saying consultations must follow the Oil and Gas Act and not sideline landowners. Energy Investment Deadline: PNG Petroleum Minister Jimmy Maladina says TotalEnergies-led Papua LNG gets improved temporary terms only if partners reach a “drop-dead” Final Investment Decision by 15 December. 5G Rollout: NICTA has cleared 5G spectrum in the 2.6 GHz and 3.5 GHz bands for licensing, paving the way for faster speeds and capacity, with Vodafone PNG targeting coverage in the NCD and at least one other city within 18 months. Financial Inclusion & Safety: Bank of Papua New Guinea governor Elizabeth Genia stresses inclusion must be safe and trusted, while BSP CEO Mark Robinson highlights digital payments and growth in mobile and internet banking. Climate Finance Push: PNG backs Green Climate Fund support for forests and oceans, while the GCF signals backing for the Pacific-led Pacific Resilience Facility. Coral Reef Commitment: Palau and other Pacific Forum members back a global pledge to protect climate-resilient coral reefs ahead of COP31. Business & Growth: Bahma expands with a new Port Moresby office to tap PNG LNG, power, mining, construction and banking opportunities; Nasfund CEO Rajeev Sharma receives the King’s Medal for 25 years of service.

Digital Economy Boost: Papua New Guinea has cleared the way for 5G, with NICTA confirming 2.6 GHz and 3.5 GHz spectrum is now available for licensing, aiming to speed up rollout in urban areas and give operators regulatory certainty. Climate Finance & Resilience: Prime Minister James Marape backed the Green Climate Fund and highlighted PNG’s approved climate support, including a major REDD+ results payment, as Pacific forests and oceans are pushed for stronger global recognition. Superannuation Milestone: Nasfund CEO Rajeev Sharma received the 50th Anniversary King’s Medal for 25 years of service, underlining continued focus on retirement security and trust in PNG’s superannuation system. Financial Inclusion Push: Bank South Pacific and the Bank of Papua New Guinea stressed that inclusion must be safe and trusted, with digital payments and mobile banking growth framed as key to resilience for rural households and small businesses. Governance & Compliance: PNG’s Anti-Money Laundering and Counter-Terrorist Financing Amendment Bills head to Parliament as the country faces FATF grey-list pressure, with KYC and stronger enforcement central to the reforms. Business & Jobs: Bahma expands in Port Moresby with a new office to tap PNG LNG, power, mining, construction and corporate demand, while the Motu-Koita Assembly’s Hiri Moale partnerships keep corporate sponsorship flowing into tourism and culture.

Independence Security: Madang police chief Supt Robert Baim has urged residents to celebrate PNG’s 51st Independence Anniversary peacefully, warning against misinformation and hate as police step up operations ahead of Sept 16. Retirement Finance Recognition: Nasfund CEO Rajeev Sharma received the 50th Anniversary King’s Medal for 25 years of service, with the award highlighting PNG’s push to strengthen superannuation confidence. Digital Economy Push: NICTA has cleared the 2.6GHz and 3.5GHz bands for licensing, paving the way for 5G rollout; Vodafone PNG says it will cover NCD and another city within 18 months. Financial Inclusion Focus: Bank South Pacific CEO Mark Robinson says digital payments are key to inclusion and resilience, while BPNG Governor Elizabeth Genia stresses inclusion only works when the system is safe and trusted. Climate Finance & Resilience: PNG backs the Green Climate Fund, citing US$85.4m approved for PNG projects, and the GCF says it is supporting the Pacific Resilience Facility’s setup. Trade & Borders: Customs Chief Commissioner David Towe calls for stronger public-private teamwork, pointing to the National Single Window and intelligence-led targeting to keep trade moving. Culture & Tourism Sponsorship: Air Niugini and WR Carpenters Group are backing the Hiri Moale Festival and Hiri Hanenamo quest with travel and gold sponsorship support.

5G Rollout: PNG’s telecom regulator NICTA has cleared the way for 5G by making 2.6 GHz and 3.5 GHz spectrum available for licensing, with Vodafone PNG targeting coverage in NCD plus at least one other city within 18 months. Energy Investment: PNG has offered TotalEnergies-led Papua LNG partners improved terms, but only if they take the final investment decision by 15 December, with the minister calling it a “drop-dead deadline.” Financial Inclusion: Bank South Pacific and the Bank of PNG used the AFI forum to push the message that inclusion only works when the financial system is safe and trusted, highlighting digital payments and BSP’s Wantok Wallet. Climate Finance: The Green Climate Fund backed the Pacific Resilience Facility, describing it as a Pacific-led mechanism that can complement GCF support for resilience and community delivery. Retirement Security: Nasfund CEO Rajeev Sharma received the King’s Medal for 25 years of service, recognising leadership in finance and superannuation. Customs & Trade: Customs Chief Commissioner David Towe urged tighter government-private teamwork, pointing to a National Single Window push and intelligence-led cargo targeting to keep trade moving. Tourism & Culture: Air Niugini and WR Carpenters Group are backing the Hiri Moale Festival, including Air Niugini’s prize travel for the Hiri Hanenamo quest winners and runners-up. Mining & Exploration: Geopacific, Great Pacific Gold and South Pacific Metals reported new gold and copper-gold targets across PNG projects, keeping investor attention on resource growth.

5G Spectrum Move: NICTA says it is ready to issue 5G licences for the 2.6 GHz and 3.5 GHz bands, with early rollout focused on urban areas; Vodafone PNG has committed to 5G in NCD and at least one other city within 18 months. Digital Finance & Inclusion: Bank South Pacific and Bank of PNG used the AFI forum to push the case that inclusion needs safe, trusted systems, while BSP highlights rapid growth in internet and mobile banking and its USSD Wantok Wallet. Governance & Compliance: PNG’s Law Society urged lawyers to keep up with fast-changing rules and technology, as Parliament considers Anti-Money Laundering and Counter-Terrorist Financing Amendment Bills aimed at strengthening KYC and meeting FATF expectations. Health System Reform: The provincial health authority rollout is now complete, bringing hospital and rural services under one structure and setting up better planning and workforce gaps. Trade & Borders: Customs Chief Commissioner David Towe called for tighter government-private teamwork, pointing to progress on a National Single Window and intelligence-led cargo targeting. Climate & Budget Pressure: PM Marape backed Green Climate Fund financing for PNG forests and oceans, while DPM John Rosso defended supplementary budget belt-tightening tied to fuel, prices and El Niño impacts. Business Expansion: Bahma Recruitment Services opened a new Port Moresby office to tap growth in PNG LNG, power, mining, construction and corporate services. Festival Sponsorship: WR Carpenters Group signed on as gold sponsor for the Hiri Moale Festival, backing transport and logistics for the event.

El Niño & Budget Pressure: Deputy PM John Rosso says PNG’s 2026 supplementary budget “belt-tightening” is necessary to protect people from rising prices, fuel pressures and El Niño impacts, including support for the Electoral Commission and law-and-justice and defence needs. Climate Outlook: The Bureau of Meteorology warns El Niño is likely to surpass past extremes, with research pointing to an “alarming” climate change influence. Financial Inclusion & Trust: DPM Rosso tells the Alliance for Financial Inclusion forum that access alone isn’t enough—PNG needs safer, trusted ways to use financial services, especially across remote areas. Digital Government Push: PNG is rolling out digital IDs for public servants, with a December 31 deadline and steps aimed at fixing payroll integrity and ghost employees. Anti-Money Laundering Bills: Justice Minister Pila Niningi tables three bills to strengthen anti-money laundering and counter-terrorist financing, with MPs linking reforms to getting off the FATF grey list. Public Safety & Media Capacity: NBC boosts conflict reporting training as misinformation grows, while calls for stronger oversight of biometrics highlight the need for public trust. PNG–Niue Cooperation: PNG and Niue sign a framework agreement covering trade, investment, tourism, labour mobility, renewables, digital connectivity and technical cooperation. Mining & Gold Updates: Geopacific reports fresh high-grade gold intersections at Woodlark; Great Pacific Gold confirms broad shallow mineralisation at Kavasuki; South Pacific Metals flags new copper-gold targets at Kili Teke; Taruga Minerals returns strong gold-silver rock chip results at East Normanby. Security & Drugs: Australia backs a Pacific-led Waqa Moana push with AU$600m over 10 years to strengthen intelligence and policing against organised crime and drug trafficking, as PNG calls for a legally binding regional security treaty. Business & Community: Steamships sponsors the 2026 Hiri Moale Festival with PGK100,000, backing Motu Koita cultural heritage.

Pacific Security Funding: Australia backs the Waqa Moana initiative with AU$600m over 10 years to help PNG and other Pacific police get intelligence and operational capacity to fight organised crime and drug trafficking. Public Finance & Compliance: Justice Minister Pila Niningi tables anti-money laundering and counter-terrorist financing bills, with MPs linking reforms to getting off the FATF “grey list” and unlocking investment. Digital Government Push: PNG sets a Dec 31 deadline for digital IDs for all public servants, aiming to improve payroll integrity and cut ghost employees under the “One Person, One Position, One Pay” push. Health & Lifestyle Medicine: NCDPHA promotes lifestyle medicine and stronger primary care as Port Moresby faces a rising non-communicable disease burden. El Niño Relief Call: A livestock farmer in Jiwaka urges emergency government support as drought bites the Highlands. Mining & Exploration Signals: Geopacific reports fresh high-grade Woodlark drill results; Taruga Minerals returns gold-silver grades from East Normanby rock chips and lines up maiden diamond drilling. Crime & Business Risk: Police investigate one of PNG’s biggest robberies after armed men stole gold bullion, cash and firearms from a Port Moresby security convoy. Regional Diplomacy: Marape and Niue sign a framework for deeper development and technical cooperation, while Taiwan presses to keep attending Pacific Islands Forum meetings. Aviation Costs: Singapore introduces a jet fuel green levy from Jan 1, 2027 for tickets bought from Oct 1, with an air cargo levy delayed.

Port Moresby Gold Heist: Police Commissioner David Manning says a major investigation is underway after 10 armed men ambushed a private security convoy at about 4:30am, stealing 25 gold bars and K315,000 cash, along with firearms, while police were not alerted to the high-value transport. Public Sector Accountability: Finance Minister Thomas Opa defended the K3B supplementary budget in Parliament, while DEI Open MP Desmond Kipa pressed PM James Marape on the legal basis for suspending more than 70 agency heads, with Marape citing constitutional and statutory reporting duties. Financial Safety Push: Westpac PNG signed the PNG Empower Finance Code, joining Nambawan Super as a founding signatory, aiming to curb financial abuse and improve safer, more inclusive services. Hydropower Review: A new report on PNG’s off-grid mini hydropower sector highlights Kudjip Nazarene Hospital’s long-running mini hydro system and calls for better performance, sustainability, and local capability. Mining Updates: Geopacific Resources reported fresh high-grade gold drilling at Woodlark, while South Pacific Metals extended the Megabe mineralised strike beyond 300 metres, supporting continued exploration. Regional Deals & Diplomacy: PNG and Niue signed a framework agreement to deepen development and technical cooperation, as Pacific leaders at the Forum urged stronger unity and faster intelligence-sharing to tackle transnational crime.

Pacific Security & Ports: The US says it’s putting US$150m into Pacific partnerships, including US$60m for fuel-crisis support and US$17m to tackle illegal fishing, plus a feasibility study for Tonga’s ports and a NZ$100m Penrhyn port project in the Cook Islands to boost patrols and economic activity. Retirement & Financial Safety: Nambawan Super becomes a founding signatory to the PNG Empower Finance Code, while Westpac PNG signs the same code to strengthen safeguards against financial abuse. Football Governance: PNGFA confirms the two-year suspension of the Port Moresby Soccer Association (PMSA) won’t stop PMSA players selected for national duties—only the member association must comply. Environment & Land Rights: A call for Parliament to fund Incorporated Land Group (ILG) registration argues customary landowners must be central to resource and environmental decisions. Hydropower Review: A new off-grid mini-hydro review highlights how community ownership and local skills kept Kudjip Nazarene Hospital’s system running for over a decade, and pushes to expand mini hydro. Mining Drilling Updates: Geopacific reports fresh high-grade gold hits at Woodlark; Taruga expands Wenasia/Sipupu gold-silver prospects; South Pacific Metals extends Megabe mineralisation beyond 300m. Budget & Public Sector Accountability: Finance Minister Thomas Opa defends the K3B supplementary budget as urgent relief; MPs question Marape’s legal basis for suspending over 70 agency heads. Consumer Protection: ICCC plans to place agents in every province to bring complaints handling and market monitoring closer to people. Bougainville Timing: Opposition leader James Nomane urges MPs to slow down before ratifying the 2019 independence referendum result.

Financial Safety & Inclusion: Westpac PNG has signed the PNG Empower Finance Code, backing stronger safeguards against financial abuse and scams, with the Bank of PNG’s Empower Finance Kibung driving shared action across the sector. Anti-Corruption: PNG’s ICAC has arrested and charged five senior provincial education officials and a school principal’s wife over alleged misuse of K908,839.50 in Tuition Fee Free funds in New Ireland. Consumer Protection Push: The ICCC says it will build a regulatory presence in every province under its 2026-2030 plan, using provincial agents to handle complaints and monitor compliance more closely. Labour Mobility Watch: A labour mobility debate is heating up after reports of inadequate protections for PNG workers abroad, including a case involving a worker’s death and follow-up issues with family support and claims. Mining & Exploration: South Pacific Metals extended the Megabe mineralised strike at its Osena Project to over 300 metres, while Great Pacific Gold reported broad, shallow gold results at Kavasuki in East New Britain. Energy & LNG Deals: PNG’s revised Papua LNG gas agreement sets a 15 December deadline for a final investment decision and outlines conditional incentives tied to LNG price outcomes. Infrastructure Safety: PNG’s revised seismic bridge design manual flags Markham bridge as hazardous, with redesign and reconstruction discussions involving JICA as traffic pressures rise toward Wafi-Golpu. Sports & Business Links: CPL was named gold sponsor for the 60th PNG Medical Symposium for a fifth year, and local rugby talent continues to draw attention as clubs and sponsors align ahead of major competitions. Pacific Geopolitics: The Pacific Islands Forum in Palau is underway amid leader no-shows and China-Taiwan tensions, with PNG and other members sending mixed representation as the region’s business and diplomacy agenda gets pulled into great-power rivalry.

Labour Mobility Watch: PNG’s labour mobility debate is getting sharper after the death of a worker in Australia and complaints about unclear responsibility for welfare, insurance, wages and workplace safety—unions are urging stronger protections from both sending and receiving sides. Anti-Corruption Crackdown: ICAC has arrested five senior New Ireland education officials and the school principal’s wife over alleged misuse of Tuition Fee Free funds worth K908,839.50. PNG Governance Under Scrutiny: A CLRC review of the District Development Authority Act is underway in Gulf after concerns about weak accountability, poor financial management, procurement irregularities and staffing gaps. Consumer & Competition Oversight: The ICCC has tabled its Corporate Plan 2026–2030, promising stronger enforcement, better complaint handling, more product safety monitoring and expanded provincial presence. Pacific Islands Forum Tensions: At Palau’s PIF summit, China-linked concerns are rising after Taiwan’s presence and reports of leader no-shows, with Australia saying the forum decides attendance. Pacific LNG & Energy Signals: PNG’s revised Papua LNG gas agreement sets a 15 December “drop-dead” deadline for a final investment decision and could shift operator roles, while Santos shares and project progress keep energy investors focused on cash generation. Maritime Capability & Infrastructure Safety: JJ Ship Equip is pushing local support for PNG’s shipping needs, and PNG’s revised bridge seismic standards flag Markham and other bridges as hazardous, with redesign work expected. Local Business Boost: NCDC-approved reopening of Apo Street Market formalises 75 informal vendors with conditions on cleanliness, waste management and small daily fees.