Hi gwizac,
Most foreign licences are accepted, but only for a period of 3 months. It then has to be converted to a PNG Licence. The class structure is different over here to Australia for example, in they are numbers 1-7, and to drive a Toyota Landcruiser requires a higher class than to drive a Toyota Hilux. Best to speak to people when you arrive about what class you require, but if possible try to obtain a Class 6 as that is the equivalent of an Australian Open Class C.