Resolution to extend license not approved by Kayangel Legislature
By: L.N. Reklai
January 15, 2018 (Koror, Palau) Kayangel State Legislator Elmis Ruluked, Chairman of Foreign Affairs informed Kayangel Governor Midas Ngiracheluolu in a letter dated January 9th, 2018 that Palau Pacific Energy, Inc.’s license to drill in Kayangel waters for oil and gas exploration expired on December 31, 2017.
Furthermore, the Resolution No. 16-6-4RS to extend the license from December 31, 2017 to May 2021 did not obtain the required three-fourths of the members of the Kayangel State Legislature at the Special Session on May 30, 2017 and therefore was not ratified according to law.
Therefore, stated the letter, as of January 1, 2018, PPE, Inc. “is without a valid license to drill in Velasco or in any waters of the State of Kayangel for oil and gas exploration of any kind whatsoever.”
Palau Pacific Energy Inc., has worked for decades with Kayangel State and national government for rights to drill for gas and oil around Velasco area. In various public presentation, the company had presented studies that show possible massive oil and/or gas reserves is below Velasco reef area and had sought to conduct drill tests to obtain substantive evidence before moving to extract the oil and/or gas. [/restrict]