Affected landowners of the PNG LNG Project have called for a review of the Umbrella Benefit Sharing Agreement signed in Kokopo in 2009.
The unanimous call was made by landowner representatives from Southern Highlands, Hela, Gulf, and Central Province.
The landowners made the call during a meeting between them and Kumul Petroleum Holdings Limited, headed by Managing Director, Wapu Sonk.
Though the purpose of the meeting was to inform landowners of the commercial option available for them to exercise their Kroton Option through a vendor finance facility, representatives were more focused on the outstanding issues with the Government on the UBSA.
Some of the issues raised included: the non-completion of the landowner vetting and identification process, well-defined terms of the Beneficiary Groups commercial option of 25.75% shareholding in Kroton (now Kumul Petroleum Limited), clarification of the direct and indirect equity under the UBSA.
Sonk told the landowners that the KPHL was not a party to the UBSA and so could not answer specific questions relating to the agreement.
He, however, stated that he would raise their issues with the Government for them to consider.
The meeting was attended by landowners from the from PDL’s 1, 2, 4, 5 & 6, 7, 8 and 9, as well as pipeline affected landowners from Gulf and Central Province.
In attendance was also former Minister for State Enterprises and key figures behind the PNG LNG Project, Arthur Somare, Koroba-Lake Kopiago MP, Philip Undialu, and former Managing Director of the PNG Power, Larry Andagali.