Kumul Petroleum Holdings Limited

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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.



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

KPHL to drive Western Pipeline

The Western Pipeline aims to aggregate all the gas fields in the province into a single pipeline that will run all the way to Port Moresby.

The gas fields include P’yang, Stanley, Ketu, Elevala, Ubuntu, Puk Puk, Douglas and Kemu.

The preposition is expected to have the potential to underpin all manner of gas commercialisation.

This was revealed by KPHL Managing Director, Wapu Sonk, during the PNG Chamber of Mines and Petroleum Conference in Sydney, Australia, early this month.

Sonk: Landowners are receiving benefits

However, he said this did not to mean that landowners were not receiving any benefits at all. He said landowners of certain fields of the project were receiving their benefits since 2014

“The Brown Field areas, Gobe and Kutubu and these places already have a mechanism in place so they are receiving it.”

“Lets not be misled by saying that LNG Benefits have not been received,” he said.

Sonk made the remarks after being questioned by the media that the Oil and Gas Act may be outdated and if there needed to be a review.

Kumul Petroleum Academy receives K4.5m

The funding was presented today by PNG’s national oil and gas company Kumul Petroleum Holdings Limited (KPHL).

The Kumul Petroleum Academy initiative is funded by the KPHL’s participation in South Pacific Employment Institution (SPEI).

A total of 32 trainees will have an opportunity to be trained at the centre situated at the world class state of the art training facility built at a cost of K53m at Idubada near Port Moresby.   

​Petromin in discussions with Kumul Holdings to effect transfer

The transfer is consistent with the State’s broader Kumul Consolidation Agenda and the requirements of the KPHL Act.

KPHL is mandated under the Kumul Petroleum Holdings Limited Authorisation Act 2015 (KPHL Act) as the sole nominee of the State to acquire, hold and manage the State’s oil and gas interests and assets in PNG and to carry on business as any other commercial entity in the oil and gas sector would.

Kumul Petroleum welcome Total’s investment

KPHL Managing Director Wapu Sonk said: “As the country’s NOC, we are happy to see Total investing in Upstream as well as Downstream Business so they can be a fully integrated oil and gas player in the Country. They have been in the country doing Lubricant business and now fuel distribution is added on and that’s a show of the growing confidence they have in PNG’s Economy, its people and its Resources and we welcome TOTAL SA.