Bulletin of the Geological Society of Malaysia, Volume 20, August 1986, pp. 23 – 37
Geological Survey of Papua New Guinea, P.O. Box 778, Port Moresby, P.N.G.
Continuing world demand for petroleum sources outside the Middle East, maintenance of high precious metal prices (gold, silver particularly) coupled with State encouragement of private-sector exploration have led to an upsurge of petroleum and mineral exploration in PNG since 1981. During the last two years, the State has also supported an "in-house" review of its petroleum resource potential by securing a World Bank soft loan for up to $US5 million which has allowed establishment of the Petroleum Resources Assessment Group (PRAG) within the Geological Survey. The work of this group will be described later. Furthermore, as a developing country situated astride the Pacific/Australia Plates‘ boundary, Papua New Guinea benefits from the results of marine scientific cruises, shore-based research and advice, sponsored and executed by aid organizations such as CCOP/SOPAC and by Government agencies and universities in Australia, New Zealand, Japan, West Germany and North America. All of the abovementioned groups have contributed towards the refinement of geological knowledge and concepts derived as a result of the now completed 1:250,000 geological mapping programme initiated by the Australian Bureau of Mineral Resources during the nineteen sixties and seventies.