Energy.

The energy sector in PNG, which has seen declining production for decades, is set to become a major driver of the economy as new investments come online. Gas is now the focus, with the $15.7bn ExxonMobil-led PNG LNG project due to start production in 2014. The megaproject has driven construction growth and set off a real estate boom in the nation’s capital thanks to an influx of foreign contractors and consultants. Oil investment is also picking up: given falling production at PNG’s mature fields, companies are exploring hard-to-reach oil fields, and license approvals by the regulator are at a peak. Meanwhile, the state-run PNG Power is battling geographic and funding obstacles to expand access to electricity. This section features interviews with Peter M Graham, Managing Director, Esso Highlands; Phil E Mulacek, Chairman and CEO, InterOil; and Tony Koiri, CEO, PNG Power.