Oil Search Ltd (OSL)

NiuPower Plant 80pc complete

This was revealed following a site visit by NiuPower Joint Venture owners Kumul Petroleum Holdings Limited and Oil Search limited.

Deputy Prime Minister, Charles Abel, was also on the tour.

NiuPower Project Director, Michael Krause, said the project is 80% complete and will handed over early next year.

“The plant will be handed over to NiuPpwer’s ownership in the first quarter of next year and then be available to provide reliable low cost, clean energy, to the grid for the Port Moresby business sector and the public,” he said.

OSL finalist in global energy awards

In a statement, OSL said: “The announcement recognises our efforts following the February earthquake that struck the Papua New Guinea highlands – affecting an estimated 544,000 people.

“As a first responder to the unfolding crisis, we offered our facilities, people and aircraft to help alleviate the critical shortage of relief supplies to stranded communities in the highlands.

Oil Search 100pc owner of Markham Valley project

Currently, the project is in its Front End Engineering and Design (FEED) phase, costing US$15 million (K45 million). It will be completed in mid-2017.

Formerly, Oil Search owned 70 percent while Aligned Energy 30 percent.

Oil Search in December last year inked a Power Purchase Agreement (PPA) with PNG Power to support the PNG Power Ramu grid with 30 megawatts of electricity in 2019.  

The project is located in Morobe Province, and more than 200,000 trees are being planted to feed this project.