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Papua and New Guinea oil will continue to have access to the Australia market



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PAPUA Al'TIl HEW GUINEA OIL WILL CONTINUE TO HAVE • ACCESS TO THE AUSTRALIA!? MARKET

( J o i n t s t a t e m e n t by t h e M i n i s t e r f o r R a t i o n a l D ev elo p m en t,

t h e Hon. R.W. S w a r tz and t h e M i n i s t e r f o r E x t e r n a l

T e r r i t o r i e s , t h e Hon. C.S. B a r n e s )

The M i n i s t e r f a r R a t i o n a l D e v e lo p m e n t, Mr S w a r t z , and

t h e M i n i s t e r f o r E x t e r n a l - T e r r i t o r i e s , Mr B a r n e s , s a i d to d a y

t h a t t h e Government had d e c i d e d to c o n t i n u e t h e p o l i c y of

a c c o r d i n g t o any c r u d e o i l d i s c o v e r e d i n Pap u a and Hew G uinea

t h e same r i g h t s w i t h r e s p e c t to p r i c e and g u a r a n t e e d a c c e s s

to t h e A u s t r a l i a n m a r k e t a s i s a c c o r d e d t o A u s t r a l i a n

p r o d u c e d c r u d e s .

The M i n i s t e r s s a i d t h a t t h e a p p l i c a t i o n o f A u s t r a l i a n

c r u d e o i l m a r k e t i n g p o l i c y t o c r u d e s p r o d u c e d I n t h e T e r r i t o r y

would be r e v i e w e d i n 1975, o r e a r l i e r i f p r o p o s a l s f o r t h e

e s t a b l i s h m e n t o f a r e f i n e r y i n Pap u a and Hew Guinea w ere p u t

f o r w a r d . ■ ’ ·

These d e c i s i o n s had b e e n t a k e n i n c o n s u l t a t i o n w i t h t h e

A d m i n i s t r a t o r ' s E x e c u t i v e C o u n c i l i n t h e T e r r i t o r y .

The M i n i s t e r s s a i d t h a t i n r e c e n t y e a r s o i l c o m p an ies .

had e x p l o r e d i n t h e T e r r i t o r y i n t h e e x p e c t a t i o n t h a t t h e y "

would have d o m e s t i c s u p p l i e r s t a t u s on t h e A u s t r a l i a n m a r k e t.

I n t h e a b s e n c e o f a s u b s t a n t i a l l o c a l m a r k e t i t i s ex­

p e c t e d t h a t t h e Government d e c i s i o n w i l l m a i n t a i n e n c o u r a g e ­

ment of o i l e x p l o r a t i o n i n t h e T e r r i t o r y . -

O i l e x p l o r e r s had b e en o p e r a t i n g i n Pap u a and New G uinea

f o r o v e r 50 y e a r s , t h e M i n i s t e r s s a i d , and t o t h e end o f 1969

$105 m i l l i o n had b e e n s p e n t by p r i v a t e e n t e r p r i s e i n t h e s e a r c h

f o r o i l i n t h e T e r r i t o r y . T h is was n e a r l y 20 p e r c e n t o f t h e

t o t a l e x p e n d i t u r e i n A u s t r a l i a and th e T e r r i t o r y .

A l t h o u g h p r o m i s i n g f i n d s o f g a s a n d · c o n d e n s a t e had b e e n

made i n t h e G u lf D i s t r i c t o f P a p u a , no c o m m e r c ia l o i l f i e l d s

had y e t b e en d i s c o v e r e d . ·' ·

CANBERRA . A·C.T.

PORT MORESBY T-P.N.G.

?9 MAY, 1970

D.7. 5308/67