KPHL happy with Exxon P’nyang gas increase

Kumul Petroleum Holdings Limited says it is happy with the outcome of the gas reserve upgrade at P’nyang following the announcement by ExxonMobil Corporation.

In a statement, KPHL Managing Director, Wapu Sonk, also says the Government through the Department of Energy, should be congratulated for insisting back in 2016 that P’nyang South drilling and reserve certification be completed first before discussing the Application for Petroleum Development License (APDL).

Sonk said now they can discuss the APDL knowing what reserves they are dealing with.

He said it also gives comfort that Train 3 discussions will happen as soon as ExxonMobil submits the other requirements for APDL.

Sonk added the Government is getting ready with the gas agreement negotiation teams for the PNG LNG Project Expansion and Papua LNG Project negotiations to start immediately.

(KPHL Managing Director, Wapu Sonk)

Cedric Patjole