Sandaun provincial leaders and members of parliament have been called on to support a proposed multibillion kina oil and gas project at the Aitape Sub-Basin in the northern part of Sandaun Province.
Chairman of Sandaun Petroleum Energy Development Limited (SPEDL) and landowner Florian Sarwap made the call recently.
Sarwap in a statement said this project, which was initiated in line with the Government’s Vision 2050 Plan will be jointly developed by Landowner Company “Sandaun Petroleum Energy Development Limited” in partnership with an Investor Company-Yongzheng Financial Holding Company Limited of Hong Kong and China.
The multi-billion Kina Oil and Gas project is expected to generate thousands of job opportunities for locals as well as to improve the local economy of Sandaun Province and the country.
“Considering the fact that Sandaun province is among the least developed provinces in the country with poor infrastructure and poor delivery of government services compared to other provinces in the country, Sandaun Petroleum Energy Development Limited is determined to improve this situation through this project,” Sarwap said.
According to SPEDL’s Company profile- SPEDL will also work with the National, Provincial, District and Local Level Governments to fulfill its development objectives as the company believes that their work will add value and enhancement to the delivery of services to the local people and the country as a whole.
Investor company- Yongzheng Financial Holding Company Limited with its diversified business and experiences in the last 30 years in Mining and Petrochemical business industries and with their operations in North America, Russia, South Africa and Asia, SPEDL believe they have the experience, resources and expertise to explore on this difficult capital and technical incentive industry.