Among issues raised, is for P-N-G-S-D-P to withdraw legal actions against the State, once this Deed is carried out.
Chairman, Sir Mekere Morauta says, the compromise solution to the dispute between it and the National Government, was offered to the Prime Minister's Eminent Persons' Group, on a 'without prejudice basis', on February 5 this year.
Sir Mekere says, this proposal aims to particularly protect the Long Term Fund and ensuring a guaranteed level of social and economic development now and into the future for the people of Western province, after the Ok Tedi Mine's closure.
The compromise deals with several aspects of the dispute, including, modest compensation to P-N-G-S-D-P for the expropriation of shares, legislation to repeal parts of the Government's 10th Supplemental Agreement Act passed last year, guarantees of protect to P-N-G--S-D-P, its board and management.
Also, an amended definition of the mine closure for the company to immediately resume development funding for Western province, once the Government secures agreement with BHP Billiton.
In addition, P-N-G-S-D-P to drop legal actions against the State, once it executes the Deed and generous payment terms allowing the State to pay compensation over an extended period.
Sir Mekere states, the dispute was not of P-N-G-S-D-P's making, but the company will gladly resolve it in the true spirit of compromise and the interest of Western province people, whom he says have suffered enough.