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Media Release: Probing Questions Asked at Oil Search Meeting

Release Date: 19-May-2017

Probing questions were asked by Jubilee's partner organisation the Australasian Centre for Corporate Responsibility (ACCR) at today's OilSearch AGM in Port Moresby.

ASX-listed OilSearch is the largest company in PNG and the second largest venturer in the huge ExxonMobil-led gas project, PNG LNG. Today at the AGM, uncomfortable questions were asked about the company's payments to local security forces in connection with the project. The issue of unpaid royalties owed to landowner communities was also raised, with ACCR saying that both issues posed a real risk to the company and its shareholders.

Jubilee Executive Director, Luke Fletcher, said: “Jubilee has long predicted that, due to the manner in which the benefits agreements were rushed through in 2009, the human rights risks associated with landowner discontent could surface at this stage of the project. The conversation at today’s AGM, especially on the subject of payments to security forces, has not allayed any of these concerns, especially given the troubled history of interactions between security forces and landowners in other parts of PNG. If the situation in Hela deteriorates from here, all of the parties to the PNGLNG joint venture, as well as their financiers (including Australian agency EFIC) will have to answer for their role dragging an already fragile country into chaos for the sake of profits.” 
Jubilee has written two reports about PNG LNG including the Australian connections to it and has raised serious concerns about the recent unrest in the province, which these reports predicted.  

See here for the full media release.