AGP Executive Report

Papua LNG operator shift: TotalEnergies confirmed it will hand operatorship of the Papua LNG project to ExxonMobil, while also selling a 9.1% interest to partners; post-farm-down, ExxonMobil is set to hold 34.1% and operatorship, with a 2026 FID target. Mining deal reshuffle: St Barbara agreed to sell its remaining New Simberi stake to China’s Lingbao Gold Group for A$410m cash plus A$43m construction-capital repayment, keeping St Barbara royalties. Central bank priorities: BPNG set out 2026 goals on price stability, Kina/FX reform, financial-sector strengthening and better economic governance as global risks rise. Financial abuse crackdown: BPNG and 15 institutions signed the PNG Empower Finance Code, aiming to reduce financial and economic abuse. Roads to jobs push: PM Marape urged Eastern Highlands communities to turn Highlands Highway investment into more coffee, SMEs and incomes, backing new bridge/road works. Mining workforce logistics: Ok Tedi completed its first direct charter flight Tabubil–Brisbane, cutting travel delays and boosting FIFO reliability. Trade & market links: West Sepik businesses were encouraged to target Indonesia’s Trade Expo (Oct 14–18) to find buyers and suppliers. Digital economy pressure: A call for PNG to engage Meta meaningfully, arguing local businesses and creators lack fair monetisation and support. Energy security talks: APEC energy ministers met in Beijing amid Strait of Hormuz disruptions, with PNG stressing it’s an import-based economy. SME/culture spotlight: Central Province’s CMACF in Bereina mixed traditional arts with SME stalls and awareness from bodies including the Cocoa Board, NFA and IRC.

APEC Energy Security: APEC ministers met in Beijing as Strait of Hormuz disruptions drive multi-million-barrel oil shortfalls, with PNG’s import dependence front and centre and renewed push for faster cleaner energy rollout. Papua LNG Operator Shift: TotalEnergies confirmed it will hand operatorship of Papua LNG to ExxonMobil while trimming its stake, with ExxonMobil set to raise ownership to 34.1% as the project targets a 2026 FID. Mining Deal Watch: St Barbara agreed to sell its remaining New Simberi stake to China’s Lingbao Gold Group for A$410m cash plus A$43m construction repayment, keeping St Barbara on royalties while Lingbao takes full control. Financial Sector Safeguards: BPNG and 15 institutions signed the PNG Empower Finance Code to curb financial abuse and strengthen customer protections. Roads to Jobs: PM Marape urged Eastern Highlands communities to turn Highlands Highway investment into more coffee, SMEs and incomes. Trade & Growth Links: West Sepik businesses were encouraged to tap Indonesia’s Trade Expo Indonesia 2026 for agriculture, manufacturing and buyer connections. Digital Economy Pressure: A call for PNG to engage Meta meaningfully over local monetisation, payments and moderation. Maritime Strategy Angle: A separate analysis highlights why sea access matters for US strategy, tying regional chokepoints to broader security planning. Mining Workforce Logistics: Ok Tedi completed its first direct charter flight Tabubil–Brisbane, cutting travel delays for FIFO operations. Brand Dispute: PNG Chiefs’ NRL name faces legal threats from New Zealand Rugby over trademark issues.

Mining Deal: St Barbara has signed a binding agreement to sell its remaining New Simberi stake to China’s Lingbao Gold Group for A$410m cash, plus A$43m to cover construction capital, with St Barbara keeping royalties (2.75% NSR on gold/silver; 1.5% on other minerals) and deal completion targeted for the March quarter of 2027. Energy & LNG: ExxonMobil will take operatorship of Papua LNG from TotalEnergies, while TotalEnergies trims its interest by selling 9.1% to partners (post-Kumul back-in: Exxon 34.1%, Santos 21%, Kumul 22.5%, Eneos Xplora 2.4%, TotalEnergies 20%). Central Banking: BPNG set out 2026 priorities: price stability, FX market reform toward a market-clearing Kina, stronger financial sector oversight, and better economic governance amid higher global energy/food prices. Finance Integrity: BPNG and 15 institutions launched the PNG Empower Finance Code to curb financial abuse and strengthen customer protection. Infrastructure for Growth: PM Marape urged Eastern Highlands communities to turn Highlands Highway investment into more coffee, jobs and SME activity, linking roads to market access. Digital Economy: NICTA and the Office of Censorship say PNG has blocked 200,000+ illicit websites via ISP updates. Trade & Business Links: West Sepik firms are being encouraged to join Indonesia’s Trade Expo 2026 to find buyers and suppliers across agriculture, manufacturing and industrial goods.

Papua LNG shake-up: ExxonMobil will take operatorship of Papua LNG from TotalEnergies, with TotalEnergies selling a 9.1% interest to partners; the revised stakes put ExxonMobil at 34.1% and keep Kumul Petroleum’s 22.5% back-in role in focus ahead of a 4Q 2026 final investment decision. Mining deal: St Barbara has agreed to sell its remaining New Simberi interest to China’s Lingbao Gold Group for A$410m cash plus A$43m construction-capital repayment, while St Barbara retains royalties (2.75% NSR on gold/silver). Central banking: BPNG set out 2026 priorities—price stability, foreign exchange reform, financial-sector strengthening and better governance—warning of risks from higher global energy/food prices and weaker commodity demand. Finance integrity: BPNG and 15 institutions signed the PNG Empower Finance Code to curb financial abuse and improve customer protections. Digital safety: NICTA and the Office of Censorship say more than 200,000 illicit sites are blocked in PNG, with updates pushed to ISPs including Starlink. Connectivity for growth: PM Marape urged Highlands communities to turn road and bridge investment into coffee, jobs and SME activity, commissioning bridges and pushing highway-linked economic outcomes. Industry tech: Metso rolled out new data-led tools for minerals processing performance and production management. Trade & markets: West Sepik businesses are being encouraged to target Indonesia’s Trade Expo 2026 to expand agriculture/food and manufacturing links. Sports brand risk: PNG Chiefs’ NRL name is under legal threat from New Zealand Rugby over trademark claims, potentially affecting the planned Port Moresby unveiling. Illicit online pressure: Separate coverage notes the ongoing fight against scam and harmful sites as new ones keep appearing.

Financial Safety Push: BPNG and 15 financial institutions signed the PNG Empower Finance Code, a voluntary framework to prevent and respond to financial and economic abuse, including salary theft, forced loans and misuse of cards/PINs. Connectivity Deal: Digicel PNG and Vodafone PNG signed a tower co-location agreement to share infrastructure, aiming to expand coverage faster and cut duplication costs. Mining & Capital Moves: St Barbara agreed to sell its remaining New Simberi stake and Tabar Islands licences to China’s Lingbao Gold Group for A$410m cash plus royalties, freeing cash for its 15-Mile Processing Hub. LNG Project Shake-up: ExxonMobil agreed to increase its Papua LNG interest to 34.1% and take operatorship as Santos lifts its stake to 21%, with the project targeting a fourth-quarter 2026 FID. Mining Operations Logistics: Ok Tedi completed its first direct charter flight from Tabubil to Brisbane, creating a new FIFO hub and cutting travel delays. Roads to Jobs: PM Marape urged Eastern Highlands communities to turn Highlands Highway investment into more coffee, SMEs and incomes, commissioning bridges and road upgrades. Agriculture Under El Niño: Farmers in the Highlands seek help as El Niño threatens coffee livelihoods, with calls for better water access. Trade Linkages: West Sepik businesses are being encouraged to attend Indonesia’s Trade Expo 2026 to find new buyers and suppliers. Digital Platform Pressure: A call for PNG to engage Meta meaningfully, arguing PNG users create value but lack fair monetisation, payments and local support. Culture & Media Win: ABC Radio Australia’s Politok won Best International Podcast at the Asia Podcast Awards. Sports Legal Threat: PNG Chiefs face a trademark dispute with New Zealand Rugby that could force changes ahead of their NRL entry. Maritime Leadership: PNG Women in Maritime Association completed leadership training to strengthen governance and women’s participation in PNG’s maritime sector. Literacy Support: Buk Bilong Pikinini donated 3,000 books to Lae schools for International Literacy Day.

Digital Policy & Platforms: PNG’s government is urged to engage Meta meaningfully, with fair monetisation and local support for creators and businesses, plus stronger rules for foreign platforms. Mining & Investment: St Barbara will sell its remaining New Simberi stake and Tabar Islands licences to China’s Lingbao Gold Group for A$410m cash plus royalties, expected to close in March 2027. Oil & Gas Governance: Papua LNG is set for a major reshuffle as ExxonMobil takes operatorship and Santos lifts its stake to 21%, with TotalEnergies cutting back ahead of final investment decisions. Local Benefits Fight: Central Province rejects a proposed Papua LNG revenue split, pushing for a near-equal 55:45 arrangement across benefits. Connectivity & Telecoms: Digicel PNG and Vodafone PNG sign a tower-sharing deal to expand coverage faster and cut duplication costs. Infrastructure for Growth: PM Marape links road upgrades like the new Pangu Highway to jobs, markets and higher farm output, especially coffee. Agriculture & Climate Impacts: El Niño is threatening coffee livelihoods in the Highlands, with farmers seeking water support as berries fail to ripen. Trade & SMEs: West Sepik businesses are encouraged to target Indonesia’s Trade Expo 2026, spanning agriculture, food, manufacturing and industrial products. Women in Maritime: PNGWIMA completes leadership training to strengthen governance and push more women into maritime roles. Education & Skills: Marape commissions UOG’s K130m facilities, stressing teacher quality as the key to PNG’s next growth chapter.

Papua LNG Reshuffle: Santos says ExxonMobil is set to take operatorship of Papua LNG while Santos lifts its stake to 21% (from 17.7%) as TotalEnergies sells down; Santos will pay about US$189m for an extra 3.3% interest, with completion tied to regulatory approvals and a Papua LNG final investment decision in 4Q26. Local Benefits Fight: Central Province rejects a proposed Papua LNG revenue split, arguing for a 55:45 division across benefits instead of Gulf-favouring 70:30 or 80:20 tiers. Connectivity Push: Digicel PNG and Vodafone PNG sign a tower sharing licence to co-locate equipment on each other’s towers, aiming to expand coverage faster and cut duplication costs. Maritime Inclusion: Women in Maritime Association executives complete leadership training to strengthen governance and advocacy, with a focus on risk management and boosting women’s leadership in PNG’s maritime sector. Education Investment: PM Marape commissions UOG’s K130m central administration building and student forum square, stressing teacher training and better learning outcomes. Agriculture & Jobs: Marape urges Highlands communities to turn highway spending into more coffee, SMEs and jobs, while FPDA highlights agribusiness collaboration at the Agri-Trade Festival. Fisheries Potential: A UPNG-linked freshwater prawn hatchery manager says prawn farming could drive food security and rural income if breeding techniques scale up. Security Warning: Police Commissioner David Manning says RPNGC has received no substantial funding for 2027 election security, risking delays in preparations. Marape on Development: A separate commentary calls for provinces and districts to take stronger ownership of law and order so development programmes don’t stall. Women’s Recognition: Stella Ipang wins Westpac Outstanding Women Awards for embedding GEDSI into PNG immunisation programmes.

Telecom Infrastructure: Digicel PNG and Vodafone PNG signed a tower co-location deal, letting both share selected tower sites to expand coverage faster and cut duplication costs. Education & Human Capital: PM James Marape commissioned UOG’s K130m Central Administration Building and student forum square, pushing for better teacher training and stronger learning outcomes. Roads to Jobs: Marape told Eastern Highlanders to turn Highlands Highway spending into more coffee, SMEs and household incomes, including a push to shift unemployed people into agriculture. Energy & Local Leadership: Santos says PNG nationals now fully lead the Kumul marine terminal, a milestone for the petroleum export workforce. Oil & Gas Restructuring: Santos will lift its Papua LNG stake to 21% by buying 3.3% from TotalEnergies, while ExxonMobil takes operatorship as FID is targeted for 4Q26. Banking Safety: NCSL signed the PNG Empower Finance Code to strengthen protection against financial abuse. Governance & Security: Police Commissioner David Manning warned 2027 election security is delayed because no substantial funding has been received. Mining Jobs: St Barbara PNG is hiring FIFO roles at Simberi Gold Mine, including logistics and camp positions. 5G Licensing: NICTA cleared spectrum for qualified mobile operators to deploy 5G services. Consumer Protection: PNG’s ICCC launched a five-year corporate plan focused on consumer protection and competition.

Telecom Infrastructure: Digicel PNG and Vodafone PNG signed a tower-sharing deal to expand coverage faster, cut duplication and lower rollout costs. Roads to Jobs: PM James Marape urged Eastern Highlands communities to turn Highlands Highway spending into more coffee output, SMEs and employment, linking infrastructure to household wealth. Energy Leadership: Santos says the Kumul Marine Terminal is now fully led by Papua New Guineans, appointing Jackson Jim and Willie Mapal as team leaders. Aviation & Trade Links: The Walshe Group appointed Russell Williss to lead Air Niugini sales in New Zealand ahead of the airline’s Auckland–Port Moresby return from 17 Nov 2026. Papua LNG Push: TotalEnergies agreed to transfer Papua LNG operatorship to ExxonMobil and sell down stakes; Santos will lift its interest to 21% as the project heads toward a 4Q26 final investment decision. 5G Licensing: NICTA cleared spectrum for qualified mobile operators to deploy 5G services. Consumer Regulation: PNG’s ICCC launched its 2026–2030 corporate plan focused on consumer protection and competition enforcement. Mining & Local Partnership: Ok Tedi and Misima stakeholders met in Milne Bay to progress the Misima Project with feasibility and impact assessments.

Papua LNG Deal Momentum: Santos will lift its Papua LNG stake to 21% by buying an extra 3.3% from TotalEnergies for about US$189m, as ExxonMobil takes operatorship—moves tied to regulatory approvals and a Final Investment Decision targeted for 4Q26. Operatorship Reshuffle: TotalEnergies is also selling a 9.1% interest (post state back-in) to partners and transferring operations to ExxonMobil, alongside EPC tender completion and CAPEX cut to around US$14bn. LNG Governance for PNG: KPHL says amended marketing arrangements with TotalEnergies strengthen state protections and decision controls for LNG sales. 5G Opens Up: NICTA has cleared the way for commercial 5G in PNG, with spectrum licensing available in the 2.6GHz and 3.5GHz bands. Consumer Competition Focus: PNG’s ICCC launched its 2026–2030 corporate plan, prioritising consumer protection and competition enforcement. Mining & Local Partnership: Ok Tedi and Misima stakeholders met in Alotau to progress the Misima Project, including feasibility and environmental and social impact work. Security Warning on Roads: A policy push argues Connect PNG must pair new transport links with stronger security to prevent crime corridors. SEZ Hurdles: SEZA flags land access and infrastructure/service utilities as key blockers slowing Special Economic Zone development. Digital & Finance Inclusion: Digicel PNG will sponsor the 2026 AFI Global Policy Forum in Port Moresby, backing financial inclusion policy work.

Papua LNG Deal Momentum: TotalEnergies says Papua LNG has cleared key steps toward a Final Investment Decision, including completed EPC tendering, about US$14bn capex after ~US$4bn savings, and a shift in operatorship to ExxonMobil—while TotalEnergies sells a 9.1% stake (post Kumul back-in) and keeps 20%. Santos Ups LNG Exposure: Santos confirms it’s buying an extra 3.3% in Papua LNG from TotalEnergies, lifting its interest to 21% and boosting equity LNG output. State Protections for Marketing: KPHL has executed an amended Lakatoi Marketing shareholders agreement with TotalEnergies, tightening governance and reserved matters (like pricing) to protect PNG’s commercial interests and compliance obligations. Consumer & Competition Push: PNG’s ICCC launches its 2026–2030 corporate plan, prioritising consumer protection, competition enforcement, and economic regulation with extra focus on women and disadvantaged consumers. 5G Opens for Business: NICTA clears the way for commercial 5G licensing using 2.6GHz and 3.5GHz spectrum, with initial rollouts expected to start in urban areas. Security vs Infrastructure: A policy warning flags that road expansion under Connect PNG could worsen crime and tribal conflict unless security and governance keep pace.

Papua LNG Deal Update: TotalEnergies says Papua LNG has cleared key steps toward a Final Investment Decision, including completed EPC tendering and about US$4bn in savings since 2024, cutting estimated CAPEX to around US$14bn. Operatorship Shift: TotalEnergies will sell a 9.1% stake (after Kumul Petroleum’s back-in) to partners and hand operatorship to ExxonMobil PNG Antelope, while keeping a 20% stake and its LNG offtake share. Regulatory Push: PNG’s ICCC launched its 2026–2030 Corporate Plan, prioritising consumer protection, competition enforcement and economic regulation, with extra focus on women and disadvantaged consumers. Digital Economy: NICTA has cleared the way for commercial 5G, making 2.6GHz and 3.5GHz spectrum available for licensing to qualified mobile operators, with early rollout expected in urban areas. Business & Jobs: Bahma Recruitment Services opened a Port Moresby office to expand into PNG LNG, power, mining, construction and corporate hiring. Security & Industry Risk: PNG’s SEZ development faces land and infrastructure hurdles, with five licensed SEZ projects totalling K10.7bn in planned investment.

5G Rollout: PNG’s telecom regulator NICTA has cleared the way for commercial 5G, confirming spectrum is ready for licensing in the 2.6GHz and 3.5GHz bands, with early deployments expected to focus on urban areas. Energy Investment Pressure: PNG has offered TotalEnergies’ Papua LNG partners improved terms only if they lock in the final investment decision by 15 December, with the minister calling it a “drop-dead deadline.” Security & Trade Facilitation: PNG Customs chief David Towe urged closer government–private sector teamwork at the 9th Customs Business Consultative Forum, highlighting progress on a National Single Window and intelligence-led targeting to keep trade moving. Mining & Jobs: Simberi Gold is advertising for a Camps Supervisor (15/13 roster) in New Ireland, underscoring ongoing demand for operational support roles in PNG’s mining camps. Explosives Seizure: PNG Police say a Cook Islands widow in Milne Bay was arrested after 150 pieces of C-4, ammunition and a sniper rifle were found following a robbery investigation. Finance & Inclusion: Bank of PNG governor Elizabeth Genia stressed that financial inclusion must be safe and trusted, not just account access, while Nasfund CEO Rajeev Sharma received the King’s Medal for 25 years of service. Sponsorships & Local Industry: WR Carpenters Group backed the Hiri Moale Festival as gold sponsor, and Bahma Recruitment opened a new Port Moresby office to expand into PNG’s resource, construction and corporate sectors.

5G Rollout: PNG’s telecom regulator NICTA has cleared the way for commercial 5G, confirming spectrum availability in the 2.6GHz and 3.5GHz bands and licensing readiness for qualified mobile operators—initial focus is expected to be urban areas. Energy & LNG Investment: PNG has offered TotalEnergies-led Papua LNG partners improved terms, but only if the final investment decision is locked in by 15 December, with the minister calling it a “drop-dead deadline.” Security & Trade: PNG Customs Chief Commissioner David Towe urged tighter teamwork between government and business, highlighting progress on a National Single Window for trade digitisation and an intelligence-led approach to target high-risk cargo. Mining Jobs & Operations: Simberi Gold is hiring a Camps Supervisor for Simberi Island (15/13 roster), covering camp administration, maintenance, safety compliance and logistics. Finance & Inclusion: Bank of PNG governor Elizabeth Genia stressed that financial inclusion must be safe and trusted, not just account access, while Nasfund CEO Rajeev Sharma received the King’s Medal for 25 years of service. Agriculture & Industry Support: PNG’s Spice Board is moving to update the spice policy and review the 1989 Spice Act to give the industry stronger regulatory powers and boost farmer and processor support. Regional Diplomacy: Pacific leaders at the Forum in Palau backed reforms, stronger climate action and ocean-focused advocacy, while PNG and New Zealand pledged deeper cooperation on education, jobs and connectivity. Public Safety Incident: PNG police arrested a Cook Islands woman in Milne Bay after seizing 150 pieces of C-4 plastic explosives, plus ammunition and a sniper rifle, linked to a robbery investigation.

5G Rollout: PNG cleared the way for 5G mobile services as NICTA confirmed 2.6 GHz and 3.5 GHz spectrum is ready for licensing, aiming to boost speeds, capacity and lower latency, with early focus on urban areas. Energy & LNG Investment: PNG offered TotalEnergies’ Papua LNG project improved terms only if partners lock in a final investment decision by 15 December, with the minister calling it a “drop-dead deadline.” Financial Inclusion: Bank of PNG governor Elizabeth Genia stressed that inclusion needs a safe, trusted system people can use in crises, while the deputy PM echoed that access alone isn’t enough. Superannuation Leadership: Nasfund CEO Rajeev Sharma received the 50th Anniversary King’s Medal for 25 years advancing retirement security and PNG’s superannuation industry. Mining & Exploration: Geopacific reported high-grade gold intersections from Woodlark, strengthening the growth story and mine-life outlook. Trade & Customs: PNG Customs chief commissioner David Towe urged tighter teamwork between government and business, highlighting a National Single Window push and smarter, risk-based cargo targeting. Agriculture & Value-Add: A Goroka “little mushroom man” story spotlights growing local dried mushroom production and training-led income opportunities. Culture & Sponsorship: WR Carpenters Group backed the Hiri Moale Festival as gold sponsor, including logistics support for festival movement. Regional Ocean Policy: Pacific leaders, including PNG, reinforced ocean sovereignty and fisheries positions and pushed coordinated action on deep-sea minerals and marine pollution. Spice Industry Reform: PNG’s spice board is moving toward a new national spice policy and seeks stronger regulatory powers to help farmers and processors scale up.

5G Rollout: Papua New Guinea’s telecom regulator NICTA has cleared the way for 5G by making 2.6 GHz and 3.5 GHz spectrum available for licensing, aiming to boost speeds, capacity and lower latency as operators plan urban-focused rollouts. LNG Investment Deadline: TotalEnergies’ Papua LNG project has been given temporary improved terms only if partners reach a final investment decision by 15 December, with PNG calling it a “drop-dead deadline” for FID. Mining Exploration Boost: Geopacific Resources reported fresh high-grade gold intersections at its Woodlark project, strengthening the growth story across multiple targets and supporting mine-life upside. Customs & Trade Facilitation: PNG Customs Chief Commissioner David Towe urged closer government-private teamwork at the 9th Customs Business Consultative Forum, highlighting progress on the National Single Window and smarter, risk-based cargo targeting. Financial Inclusion Focus: Bank of PNG governor Elizabeth Genia stressed that inclusion needs a safe, trusted system people can use in crises, not just account access, as PNG hosted the 2026 Alliance for Financial Inclusion forum. Spice Industry Push: PNG’s spice board is moving toward a new national spice policy and a review of the Spice Act to give the industry stronger regulatory powers and better support for farmers and processors. Workforce & Skills Links: PNG and New Zealand agreed to deepen cooperation on education, technical training, jobs and transport links to prepare more Papua New Guineans for work at home and overseas. Corporate & Community Sponsorship: WR Carpenters Group backed the Hiri Moale Festival as gold sponsor, including logistics support to help communities move and participate. Superannuation Recognition: Nasfund CEO Rajeev Sharma received the King’s Medal for 25 years of service, spotlighting PNG’s retirement savings sector.