Kumul Petroleum Holdings

Kumul Petroleum Holdings signed a Memorandum of Agreement with the Ministry of Health and Morobe Provincial Health Authority on the 19^th of August, 2020, to support the improvement of the ANGAU National Cancer Services under the ANGAU Memorial Provincial Hospital.

Nine months later, they followed through with the presentation of the new vehicle.

The vehicle will provide additional resource to support the work of the unit, particularly that of the new radiation oncologist.

According to the Kumul Petroleum Managing Director Wapu Sonk, this is an ongoing effort to combat and contain Coronavirus.

The event took place within the Port Moresby General Hospital.

It was a small but significant ceremony, witness by few of the hospital staff, others and the media.

When, addressing those who have gathered, the Port Moresby General Hospital Chief Executive Officer Dr Paki Molumi thanked Kumul Petroleum for its continuous support.

Western Province is a hotspot for high levels of drug-resistant TB in the country.

KPHL General Manager for Stakeholder Relations Ian Marru while presenting the cheque said: “As a national oil and gas company, its shareholders being the seven million plus people of Papua New Guinea, investing in health is creating wealth and promoting a healthier nation.”

He said supporting health initiative will maintain the standard of health services in Papua New Guinea.

This was stated by former Kumul Petroleum Holdings Deputy Chairman, Larry Andagali.

He gave the assurance yesterday during a meeting between Kumul Petroleum Holdings Limited and all landowners affected by the PNG LNG Project.

“4.27 pesent ikuiti blo yupla mipla no mogijim. Mi bin sindaun na mi mekim shor osem at the board level. That did not happen,” said Andagali. (We did not mortgage the 4.27 percent equity belonging to you. I’m made sure whilst on the board that did not happen.)

Kumul Consolidated Holdings (KCH) is the predecessor of Independent Public Business Corporation.

"This follows the recent introduction of the IPBC/ KCH Amended Act, making way for the formation of three (state owned) entities responsible for the sovereign wealth fund," Chairman Paul Nerau says.

The three entities that will be responsible for revenue from the mining and petroleum sectors and also all state own entities are, Kumul Petroleum Holdings, Kumul Minerals Holdings and Kumul Consolidated Holdings.