Kumul Petroleum Holdings Limited (KPHL)

In response to the country's pressing fuel crisis, a shipment of diesel and Jet A1 was recently discharged at NapaNapa. This move comes as part of a strategic intervention mandated by the National Government under the Essential Services Act, with a NEC decision entrusting KPHL to find a commercial solution to manage the energy crisis.

Taking over a shipment of fuel originally brought in by ExxonMobil, KPHL facilitated the transaction by purchasing in US dollars and selling to Puma Energy in Kina.

The agreement focuses on expanding the status of the academy by providing more experienced and skilled training to young determined Papua New Guineans.

The expansion of the academy includes a new training facility that is to be situated near the PNG LNG Project Plant site at Caution Bay, with a capacity to train 350-400 trainees. The current KPA facility at Idubada can facilitate 80-100 trainees, thus bringing the total number of trainees in a year to 400-500.

Minister William Duma said: “I am glad that Kumul Petroleum has been able to raise sufficient funds for the purchase of an additional 2.6 percent interest in the PNG LNG Project from Santos.

“The acquisition of this additional equity increases PNG shareholding in this LNG Project, which will have a long-term benefit for the country.”

Minister Duma outlined that the PNG LNG Project had a long life – in fact, until 2065 – since the Papua LNG Project will use the existing PNG LNG Project plant to earn a tolling fee from processing gas from the forthcoming Papua LNG Project.

Kumul Petroleum Holdings Ltd clinched victory and Kumul Minerals Team 2 securing the runner-up position.

The tournament not only showcased golf prowess but also featured entertaining categories like 'closest to the pin,' 'longest drive,' and 'the Tarzan,' adding a playful touch. The generous sponsorship from Ela Motors allowed BbP to extend its reach, fostering a memorable day for all involved.

The construction of lay down and necessary associated site work, including services rights of way and site access roads, has now started after the construction contract was signed in July.

KPHL’s corporate affairs executive general manager, Luke Liria, outlined this in his presentation at the PNG Chamber of Mines and Petroleum’s Community Affairs and National Content Conference and Expo (CANCONEX) in Lae.

The rugby union challenge kicked off today and will run through to July 20, 2023, will see 10 teams representing various PNGDF establishments compete for the prestigious cup.

This year's tournament, held at the Igam Barracks and Sir Ignatius Kilage Stadium in Lae, has received a significant boost with Kumul Petroleum Holdings Limited (KPHL) stepping up as a platinum sponsor.

As a company known for its unwavering commitment to community engagement, KPHL's Managing Director, Wapu Sonk, expressed his delight in contributing to the success of the annual event.

The contract, worth a total of US$10 million (approx. K35 million), was officially signed by KPHL Managing Director Wapu Sonk, and Wang Ounan, General Manager of the construction contractor.

Speaking on the agreement, Mr. Sonk stated, "This contract marks the initiation of the KPHL training and fabrication facility. The civil construction work outlined in the contract encompasses the construction of access roads, building foundations, and associated site work and services rights of way."

For this reason, the management of the Ihu SEZ have signed a Memorandum of Understanding (MoU) with Kumul Petroleum Holdings Limited (KPHL) to progress feasibility studies on power generation sources.

This is a follow up from the agreement signed between the Ministry of International Trade and Investment and KPHL earlier this year.

“KPHL is happy to collaborate with the Ihu SEZ Development Company to carry out feasibility studies on possible power generation solutions for their particular area,” said KPHL managing director, Wapu Sonk.

Minister Richard Maru stated that the assistance worth K100, 000 from KPHL will support with the staging of the summit on May 8 & 9; and is a timely boost that is also consolidating the partnership.

KPHL managing director, Wapu Sonk when applauding the announcement on March 6, 2023 said the development paves the way for an additional LNG train to be owned by KPHL, unlocking previously inaccessible gas reserves and creating significant value for Papua New Guinea.

He said: “Papua LNG is the country's next large-scale LNG development and will bring many short and long-term benefits to the nation. Kumul Petroleum is ready to take up the State's 22.5% share in the project after FID.”