The National Governments’, revived state-owned entity – National Petroleum Company PNG, will be the custodian of the nation's 16.8 percent shares, in the ExxonMobil PNG LNG and other future gas projects.
This new entity is responsible in facilitating; the processes involved, projected to create benefits for the people, in terms of resources.
The National Petroleum Company of PNG launching was officiated by Prime Minister Peter O’Neil in what he said was a significant moment for the country.
The company will be a vehicle of channeling equity interests as well as building capacity interest for the country.
The launching of this office is a deliberate step taken by the Government to approach the cries of the people who will benefit from the resources.
Meanwhile NPCP Chairman, Frank Kramer, said the confidence from the Prime Minister regarding the functioning of NPCP has a strong influence in the company reaching its vision for the country.
The company is seen as a way forward for the country in developing its economy and including resource owners and the people of the country.