Kumul Petroleum Holdings Limited

The inaugural charity golf challenge will see funds raised this year go towards supporting the work of Life PNG Care.

The NGO runs a care centre for underprivileged children living in Port Moresby.

It currently has 54 children residents at the centre and also feeds 100 street children during the weekends.

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.

Kumul Petroleum Holdings Limited managing director Wapu Sonk made these remarks during the 2^nd Petroleum and Energy Summit in Port Moresby on Monday.

However, Sonk said PNG is uniquely positioned and is central to the biggest demand growth in South East Asia.

When the price of LNG drops, it will increase the demand and PNG will be in a better position to market its LNG, stated the MD.

The KPHL Board approved the company’s contribution during a special meeting last week.

Chairman Sir Moi Avei said the KPHL Board recognises the challenges the Government faces and the needs of the affected people, hence the decision to help rebuild infrastructure and restore normalcy to Hela, Southern Highlands, Western, Gulf and parts of Enga.

Managing Director Wapu Sonk said also share similar sentiment saying KPHL assistance is to the National Disaster Relief fund.

Kumul Petroleum Holdings Limited Managing Director, Wapu Sonk, says there is ongoing discussions between these countries on ways to enter the energy market in PNG.

He said PNG is one of the few remaining countries in the world which has an energy resource base that is yet to be fully explored.

Speaking at the Oxford Business Roundtable early last week, Sonk said with the APEC year upon us, significant interest has been shown by these countries.

He made the comments during the donation of K50,000 from Kumul Petroleum Holdings Limited (KPHL) yesterday.

Governor Bird received a cheque from KPHL Managing Director, Wapu Sonk, towards relief efforts for the aftermath of the Kadovar Island volcanic eruption.

Sonk said KPHL, being the national oil and gas company, has a social responsibility to all Papua New Guineans and obligated to help the people of Kadovar at this time of need.

Governor Bird thanked Sonk for the donation and said the level of support received has been overwhelming.

Both parties will associate and collaborate with each other on a mutually exclusive basis for the above-mentioned FLNG project of Kumul Petroleum Holdings Limited from PNG.

Wison has a proven track record in the delivery of the world’s first barge-based FLNG. In September 2016, Wison successfully completed its performance test at the Wison yard in Nantong, China. This marked for the first time in history LNG had been produced on-board a floating facility. It was also be the world’s first gas trial for a floating liquefaction unit before sail-out.

KPHL made the presentation today to Chairman of the organizing committee, Dr. Osborne Liko, in Port Moresby today.

This is the third time KPHL has backed the annual event, which brings in medical practitioners from around the country, region, and globally.

Presenting the cheque to Dr. Liko, KPHL Social Inclusion Coordinator, Sylvestor Rawela, said the sponsorship is part of the company’s ongoing commitment to advancing Papua New Guineans by creating value and opportunities.

Recently the company appointed former part-time employee, Richard Robinson, to head its Energy Business Subsidiary which oversees the power plant.

Robinson was with KPHL between 2013 and 2014 and led efforts to develop gas-fired power generation in Port Moresby.

In a media statement KPHL Managing Director, Wapu Sonk, said Robinson will focus on the set up and development of the new business venture whilst maintaining a close overview of the initial Port Moresby gas-fired power station project development.

The agreement will enable KPHL to enter the active LNG market and trade LNG cargoes in to LNG market spots.

KPHL Managing Director, Wapu Sonk, and LNG Japan Limited President and CEO, Norikazu Onishi, both signed the agreement today in Port Moresby, in a separate ceremony from the Inaugural Petroleum and Energy Summit.

Sonk said the agreement allows both companies to begin work on a joint venture partnership and take advantage of spot markets.