THE Passage of the National Petroleum Authority Bill marks the beginning of a new era for PNG’s Petroleum Industry. PNG National Parliament on Wednesday has passed the National Petroleum Authority (NPA) Bill, a landmark legislative reform that will transform the government and management of the country’s petroleum sector. Minister for Petroleum Jimmy Maladina has welcomed the passage of the Bill said this is a historic moment for Papua New Guinea’s petroleum industry. Mr. Maladina said the passage of the NPA Bill marks a new dawn, one that will bring greater efficiency, transparency and accountability to the sector. “This reform is long overdue, and I am proud that we have delivered it. The NPA will replace the Department of Petroleum, operating as an independent statutory body with a strong governance framework. The new authority is designed to provide streamlined decision-making, improved investor confidence and a more effective regulatory environment,” Mr. Maladina said. Minister Maladina emphasized that the Bill is part of the Marape-Rosso government’s broader agenda to reform and modernize key sectors of the economy. “With the establishment of the NPA, we are fulfilling a critical reform under the government’s agenda to strengthen governance, increase efficiency, and ensure our petroleum resources are managed for the benefit of all Papua New Guineans,” he said. The Petroleum Minister also acknowledged the collaborative efforts that contributed to the Bill’s success. “I extend my sincere gratitude to my parliamentary colleagues for their bipartisan support, and all stakeholders who played a role in shaping this critical legislation. This achievement reflects our shared commitment to strengthening PNG’s resource management framework for the benefit of our people and future generations. With the Bill now passed, the focus shifts to implementation. I reassured industry players and stakeholders that the transition will be managed effectively,” Minister Maladina said. He said his ministry is committed to ensuring a smooth and structured transition of the Department into the new regulatory framework. “We will continue engaging with industry players to ensure the NPA is fully operational and delivers on its mandate. As part of the reforms going forward, work will also commence on reviewing the fiscal regime under the Oil and Gas Act towards a production sharing arrangement. This review, to be conducted in consultation with industry stakeholders will aim to establish a balanced framework that ensures fair benefits for PNG while maintaining a competitive environment for investors. The government targets finalizing this process by August 2025,” Minister Maladina added.