The Government has concluded consultations on proposed changes to Directive PNG025: Licensee Liability Rating (LLR) Directive. The new Directive PNG025: Licensee Liability Rating (LLR) Directive came into effect on June 21, 2019. Inquiries regarding these changes can be directed to ER.firstname.lastname@example.org.
The Ministry of Energy and Resources sought input from the oil and gas industry on a proposed amended Directive for the Licensee Liability Rating (LLR) Program. The proposed amended directive features changes to phase out the Present Value Salvage (PVS) factor in the LLR Program.
Highlights of the proposed amended directive are available at: