On 29th November, 1994, Sam Pepena, the Chairman of PNG Oil Refinery Pty Ltd ("PNGOR") and His Excellency the Governor General, Sir Wiwa Korowi (on behalf of the Independent State of Papua New Guinea) signed the Project Agreement (negotiated by IAF).

The Project Agreement provides for the liaison of the PNG Government and PNGOR for the development of the site (and the all-important relationship with the local people) as well as lay out PNGOR's status and obligations before the commencement of the development.

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