15 Sep 2005

Malaysia energy company interested in developing PNG's reserves

10:11 am on 15 September 2005

A major oil and gas company in Malaysia has shown an interest in developing Papua New Guinea's oil and gas reserves.

The PNG government says it will consider the offer by the Malaysian government owned company, Petronas, which is privately run.

The PNG Minister for Lands and Physical Planning Dr Puka Temu said Petronas was also willing to train PNG engineers in Malaysia so that they could be upskilled.

He said other companies such as Japanese Itochu Corporation and Mitsubishi wanted to enter into a joint venture arrangement with Oil Search Limited to build a methanol plant in the country.