Kumul Petroleum Holdings Limited (KPHL) under Managing Director, Wapu Sonk of PNG has commended Santos Ltd and Oil Search Ltd over successful completion of merging.
Santos being a regional industry has expressed strong interest in PNG as it has plans to pursue a greater role along with Kumul Petroleum, Total SA and ExxonMobil in various oil and gas development projects in PNG.
The Managing Director for KPHL commended Oil Search for been the mainstay over PNG’s focused oil and gas resources development in the country.
“As direct beneficiaries of OSL in the early stages as former employee, and now partners in various projects, I would like to farewell a name that was synonym with oil and gas in the country for over 30 years.
“Without OSL, we couldn’t see some of those major development changes in the country through both direct and indirect investment such as tax credit schemes, direct cash injection through corporate tax, employee tax, employment opportunities and many other positive impacted through corporate social responsibility programs made over the years in the project footprints and elsewhere”, Sonk said.
Sonk said the change of guard now creates better opportunity for Kumul Petroleum as the leading host partner to Santos and other major global industry players giving prominence to the NOC while adding value to various investments as well as adding value to the industry and country itself.
The Managing Director said as the host NOC and partners, Kumul Petroleum is looking forward to working with Santos and pick up on the leagues left by OSL to create more values and opportunities that mutually benefits all partners and shareholder in the business.
