Kumul Petroleum Holdings Limited

KPHL donates K50m to disaster

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.

Asian energy firms eyeing PNG: Sonk

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.

Disaster funds to be accounted for: Bird

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.

Deal signed for floating LNG project

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 backs Medical Symposium

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.

KPHL appointment to lead gas-fired power generation

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.

KPHL and LNG Japan sign joint venture agreement

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.

Loop PNG's 5@5

Stop work at UPNG medical school

Academics at the University of Papua New Guinea School of Medicine and Health Sciences have voted to stop work today.

http://www.looppng.com/png-news/stop-work-upng-medical-school-50743

 

Parliament resumes today

Parliament will resume today at 2pm for its January session.

Interim committee set up for Green Field

It is hoped the interim leadership also exercises the “Kroton Equity Option” to close down their share of the 4.247 per cent indirect interest in the PNG LNG Project.

The Green Field areas represent PDL 1 and 7 (Hides 1 and 4), PDL 8 (Angore), and PDL 9 (Juha) and pipeline segments, and are areas where the clan vetting process has not been conducted to identify legitimate landowners and clans.

Minister for Petroleum and Energy, Nixon Duban, has set up the interim committee’s and it is expected that the Kroton Equity Option will be exercised by the end of January.

Kina Petroleum to monetise resources with start of drilling

Kina Petroleum CEO, Richared Schroder, told members during their Annual General Meeting recently that Kina’s business and commercial priority is the monetisation of the discovered resources in Petroleum Retention Licenses (PRL) areas 21 and 38.

He said Infrastructure investment announcements by Kumul Petroleum Holdings Limited (KPHL) in Western Province and proposed drilling activity in May 2017 by Twinza Oil Limited at Pasca will positively impact on the future commercialisation of both assets.

“Kumul’s proposed pipeline from Western Province to the east clearly