The Independent State of Papua New Guinea (PNG) consists of a group of islands, the largest of which is the eastern half of the island of New Guinea. PNG is located in Oceania between the Coral Sea and the South Pacific Ocean, east of Indonesia and north of Australia.
PNG is one of the most culturally diverse countries in the world having over 860 indigenous spoken languages. The island of New Guinea is also one of the least explored places on earth.
Economic Growth
PNG has recently experienced strong economic growth from the exploitation of natural resources, including natural gas, oil, gold, silver, copper, timber and fisheries.
Petroleum Industry
PNG is estimated to have up to 9 trillion cubic feet of natural gas and 400 million barrels of oil. A major oil refinery was completed in PNG in 2004. Also, a large liquefied natural gas (LNG) production facility is expected to come on line in 2014. The LNG project is based around a two-train LNG liquefaction facility based near the capital of Port Moresby and is expected to be capable of producing over 6 million tons of LNG a year, primarily for export to the Asian market. It is predicted that when the project is in production, it will more than double the country’s GDP and triple export revenues, as well as creating further business development opportunities.
This economic growth, particularly in the petroleum industry, has resulted in a corresponding growth in the number of patent filings in PNG.
Spruson & Ferguson has expertise in the filing and prosecution of patent applications in PNG and would be happy to assist you in obtaining patent protection.