The Minister for Petroleum Jimmy Maladina presented the Oil and Gas Act Amendment Bill to Parliament today. Minister Maladina thanked the Assistant Speaker of Parliament for allowing him to present the Oil and Gas Act Amendment Bill 2025 to the House, stating that the Bill is consequential to the National Petroleum Authority Bill, aligning the legislations in meaning and function. “Mr. Speaker this consequential amendment Bill defines the National Petroleum Authority in the Oil and Gas Act 1998. Once enacted, the National Petroleum Authority will replace and supersede the Department of Petroleum and Energy as the administrator of the Oil and Gas Act 1998, which is the primary legislation, regulating the Petroleum industry and activities in Papua New Guinea,” he said. Minister Maladina stated that this proposed Bill is consequential, given effect to the proposed National Petroleum Authority Bill for an Act 2025. The Bill states that the amendments will commence in accordance with a notice in the National Gazette, by the Head of State, acting with, and in accordance with, the advice of the Minister. Minister for State Owned Enterprises William Duma commended the Minister for Petroleum Jimmy Maladina for presenting the Bill and supported the Bill. Prime Minister James Marape supported the Bill stating that the Bill will give the government a platform to move into a hybrid production region that has PNG characteristics that will include not chasing investors away. “This Bill will protect our investors so they too are making money, and it will clarify as to what the PNG is entitled to whether it is tax, royalty, equity levies. I just want to give assurance to the industry stakeholders out there that this restructure happening will not diminish their presence, rather it will ensure they are operating in clarity,” PM Marape added.