KPHL

Petroluem Engineer, Zachariah Yakap, and Geologist, Elliona Maso, from Kumul Petroluem Holdings Limited (KPHL)have been selected out of hundreds of applicants around the world to study at the Centro de Formacion de Repsol, Madrid.

The prestigious Masters Programs in Oil and Gas Exploration is sponsored by Repsol, South Africa’s largest oil company.

KPHL Managing Director, Wapu Sonk, thanked Repsol for sponsoring both staff of the organization saying it is in line with KPHL’s strategy of building the Kumul Petroluem Academy.

This was the message from Minister for Petroleum and Energy, Nixson Duban, following the launching of the process to begin opening of ‘Beneficiaries Clan Accounts'.

Contrary to media publications and allegations that the royalty funds for the landowners have been used by the Government and other state agencies, Duban said the funds awaited the completion of the Ministerial Determination which has been done already.

He said the Government was committed to paying the royalties however, there remained legal cases to be sorted out before certain groups can be paid.

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.

Undialu said he had protested during a meeting with KPHL executives and landowners during their meet in Sydney in August after the proposal by KPHL.

“My objection was not only as landowner and MP but as Acting Governor of Hela Province at that time.

“I cannot understand why KPHL rushed to  the National Executive Council seeking for a Vender Note to raise funding from international financers?

“Why rush without seeking mandate from the Beneficiary Groups including Hela Provincial Government, the other four provincial governments and landowners?

He said the statement is completely misleading and doesn’t make sense at all.

“One has to appreciate that the financial modelling that goes behind something like this is far beyond any of these people that have put together.”

He said what the landowners have used was from a presentation he did and they have completely interpret it incorrectly.

 He said there are motives behind the landowners’ misleading statements.

Vendor Financing basically means KPHL will give the shares to the beneficiaries at no cost and will recoup the payment internally through the LNG revenue.

However, the President of the Peoples United Assembly Party Inc. (PUA) and a clan leader of landowners in the project areas of PDL 1 (Arua -Hiwa Block), PDL 8 (Block 1642 -Pureni), and PDL 9 (Humiya Block), Raymond Kuai said this arrangement will make a mockery of late Hela Governor Anderson Agiru’s decision to purchase 4.27% additional equity in the LNG Project.