Kumul Petroleum Holdings Limited

Managing Director Wapu Sonk thanked developer, Santos for their patience and understanding, enabling this transaction to be finalised and its shareholding in this robust LNG project to be increased.

ICCC Commissioner and Chief Executive Officer Paulus Ain said ICCC made this decision following its assessment and considered that the proposed transaction will not affect competition or change the competitive dynamics of the market in PNG.

“The ICCC was satisfied that the Proposed Acquisition of up to a 5 percent project interest in the PNG LNG Project from Santos by KPHL would not likely have the effect of substantially lessening competition in any market in PNG,” Ain said.

Managing director Wapu Sonk said, “We have now secured an MOU with  Sinopec (Ningbo) Engineering and Construction (SNEC) and China State Construction and Engineering Company (CSCEC) to work with us on the EPC phase of this fabrication facility.

This complements the agreements we already have in place with two Dubai based companies - A2Z LLC to design the heavy fabrication engineering plant and Fabtech International to manage the facility for us.”

The deal was sealed with Fabtech International, a Dubai based Fabrication Facility Operator.

KPHL Managing Director, Wapu Sonk said, “This Facility is expected to have a capacity of 20,000 tonne per year, producing steel, mechanical, piping and electrical modular packages”

He said this is expected to provide direct employment for 1000 skilled Papua New Guineans and indirect jobs for up to 3000 more people when it is operating at full capacity. The number of jobs could double if the facility is run 24hrs per day.”

At the signing ceremony, Stephanie Alopea representing KPHL said, “Although KPHL is well known for supporting some of the more popular sports in PNG such as soccer, rugby union and rugby league, we are also aware that the country has being quite successful regionally in squash and this interest has to be maintained through coaching of junior players.

Sponsored by Kumul Petroleum Holdings Limited, all proceeds from the event will go towards the cancer treatment facility at the ANGAU Memorial Provincial Hospital.

The charity golf challenge will tee off on February 4^th, coinciding with World Cancer Day.

KPHL executive general manager corporate affairs, Luke Liria, said the golf challenge, which will be an annual event, aims to acquire chemotherapy drugs and other consumables used in cancer treatment.

Dr Yaru is a Founding Director of the KPHL Board since 2013 until his recent elevation as Chairman of Kumul Petroleum Board of Directors. He hails from Par Village in Kompiam/Ambum district in Enga Province

Tsaka said Dr Yaru’s academic achievements, qualifications, and more than 30 years of experience in a variety of challenging positions and places him in good stead to head the National School’s Rugby League program.

This was his message when receiving donations from Kumul Petroleum Holdings Limited and the World Health Organisation (WHO) on Friday.

“The message must be clear to our people. We are in the new normal stage now and our people must never go back to the old ways where you think you don’t have to wash your hands before you eat…Continue to be vigilant,” Minister Wong stressed.

KPHL recently presented K5 million, on top of a K100 million dividend payment for 2020, to the to the National Government to assist with preparedness to combat and contain Coronavirus in the country.

The presentation was made on Friday, March 27^th, 2020 by KPHL Managing Director Wapu Sonk.

Chairman Sir John Pundari made the statement in response to KPHL saying their finances and books do not qualify as ‘public accounts of the State’.

The board of PNG’s national oil and gas company did not take too kindly to a statement made by Sir John in the media.