IPA, Santos sign MoU to strengthen landowner companies and SMEs

The Investment Promotion Authority [IPA] has signed a Memorandum of Understanding [MoU] with Santos Limited to design and deliver training programs aimed at boosting compliance and corporate governance for landowner companies and small businesses in resource areas.

The agreement targets landowner company [landco] contractors and Small and Medium Enterprises [SMEs] operating within Santos project-impacted areas across Papua New Guinea.

IPA Managing Director Clarence Hoot and Santos Senior Vice President PNG Stakeholder Management Wayne Kasou officially signed the agreement.

Under the partnership, the IPA and Santos will develop capacity-building training to ensure local businesses operate transparently and comply with statutory requirements.

The initiative aligns with the IPA’s ongoing institutional reforms, which focus on modernizing the national company registry system and promoting sound corporate governance.

While landowner companies remain central business partners in Santos-operated petroleum and energy projects, many continue to face operational challenges surrounding board responsibilities and regulatory compliance.

Beyond compliance training, the partnership will also assist local landcos in exploring and developing new commercial opportunities within their project footprint.

The deal expands the IPA’s existing network of inter-agency and provincial partnerships aimed at decentralizing business support services.

The IPA maintains similar working MoUs with key state bodies including the Internal Revenue Commission, PNG Immigration and Citizenship Services, National Cultural Commission, National Gaming Control Board, and the Royal Papua New Guinea Constabulary Fraud Directorate, as well as provincial administrations to establish dedicated IPA Help Desks within provincial commerce divisions.