PNG Oil & Gas Industry Overview slide image

PNG Oil & Gas Industry Overview

2. Regulatory Framework Primary Legislations & Regulation Oil and Gas Act 1998 (as amended) Oil and Gas Regulation 2002 ā†’ Policies Petroleum Sector National Content Policy 2023 Core Petroleum Regulating Agency Department of Petroleum and Energy The Energy Division separated into a new Entity, National Energy Authority with focus on Renewables, Energy and electrification. The Petroleum Division now focuses on the hydrocarbon sector in licensing, regulating and administering the Oil and Gas Act, Regulation and Policies. Currently both Department of Petroleum and NEA come under the Ministry of Petroleum and Energy. 193
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