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Port Moresby
October 26, 2021
News

Local Company signs Agreement with National Petroleum Company

DIRECO, a local company, will be providing technical expertise tothe National Petroleum CompanPNG under an agreement signed yesterday.

 

Formerly known as Croton 2,the National Petroleum Company is a state owned entity in charge ofthe state’s participation inthe LNG Project.

It isthe 3rd largest partner inthe project with 16.6 per cent shareholding.

 

However,the man who oversees this organisation says it is yet to build its technical expertise.

 

“As a new entity representingthe state, we lack capacity inthe technical area,” says Wapu Sonk, NPCP Managing Director.
 

He says NPCP has a long term strategy to build its technical know-how inthe field of oil and gas, but this isthe short term measure.

 

DIRECO has been providing technical expertise in allthe different stages inthe petroleum industry and are ready to assist NPCP wheneverthe need arises.

 

DIRECO has all Papua New Guineas in its pool of expertise inthe oil and gas industry and this agreement opens up a partnership to partake inthe LNG project.

 

“We are opening a door that will basically bring a lot of our expertise that are available in this country&hellipthe door we’re opening with NPCP is a door that this country has been looking for some time,” said Peter KenGemar, Managing Director – DIRECO.
 

The company says this is an opportunity to partake inthe LNG Project and compete with ther international companies engaging in providing consultancy to partners inthe LNG Project.

 

It has expertise ranging from geologists, petroleum engineers and even facilities engineers; allthese are Papua New Guineas.

https://youtube.com/watch?v=lmIQDBeitgI%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0

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