The Oil and Gas Act in Papua New Guinea (PNG) provides several benefits to local landowners, including:
1. Landowner royalties: The act requires oil and gas companies to pay royalties to landowners for the extraction of resources on their land. These royalties can provide a significant source of income for local communities.
2. Employment opportunities: Oil and gas projects in PNG often provide employment opportunities for local landowners, both during the construction phase and once production begins. This can help to stimulate economic development in rural communities.
3. Infrastructure development: Oil and gas projects often require the construction of infrastructure, such as roads, schools, and health clinics, which can benefit local communities long after the project is completed.
4. Capacity building: The act includes provisions for capacity building programs to help local communities develop the skills and expertise needed to participate in the oil and gas industry.
5. Environmental protection: The act includes provisions for environmental protection and management, which can help to minimize the impact of oil and gas projects on local ecosystems and biodiversity.
Overall, the Oil and Gas Act in PNG aims to promote sustainable development and ensure that local communities benefit from the extraction of natural resources in their area.
Oil and gas act in png benefits to local landowners
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