Authority replaces Department of Petroleum and Energy

The passage of the National Petroleum bill 2025 and the Oil and Gas Amendment Bill 2025, now sees to the establishment of the National Petroleum Authority which replaces the Department of Petroleum and Energy.

Both sides of the house voted in favor of these bills, with an absolute majority vote of 84 to nil for the former and the latter passed on voices.

Petroleum and Energy Minister Jimmy Maladina today tabled the bill which now sees the authority as the administrator of the Oil and Gas act 1998.

Four clauses under this amendment, will take effect among them the establishment of the authority.

Mr. Maladina told Parliament, the current budget allocation for the department of petroleum and energy was around 25 to 35-million kina.

Under this proposed restructure, they are expecting a four fold increase in the allocations, from 80 to 120-million kina.

The petroleum minister says the authority will champion the state's agenda of creating more investment to support PNG's social economic development, hence the need for it to be adequately funded: