Kumul Petroleum holdings Limited is Papua New Guinea’s national oil and gas company (NOC) mandated to protect and maximize the value of the Country’s assets such that it can contribute to the maximum wealth for its ultimate shareholders; the 7 million plus people of Papua New Guinea.
When the Kumul Legislations is Certified, Kumul Petroleum will be Kumul Petroleum Holdings Limited.
Since its inception in 2009 as Kumul Petroleum, the NOC was operating as a commercial entity with its core commercial interest being the interest in the PNG LNG Project.
Kumul Petroleum holdings Limited is currently responsible for managing the State’s 16.57% equity in the S$19b PNG LNG Project; becoming the 3rd largest partner in this single largest investment made by the nation to date.
Kumul Petroleum holdings Limited being a NOC envisions being like Petronas of Malaysia in creating value and opportunity for PNG and its people by becoming a major national oil and gas corporation.
Kumul Petroleum holdings Limited has the potential to be like Petronas because it has the oil and gas resources in the country that it will always have an option for 20.5% stake in every development.
The Exploration potential is very high as well so Kumul Petroleum can grow to a Multi-Billion dollar company very quickly in PNG and start venturing outside of PNG.
That is the vision of Kumul Petroleum or Kumul Petroleum Holdings has and it will carry PNG’s flag everywhere it goes.
That is what we truly mean to say “creating wealth and opportunities for Papua New Guinea now and into the future.”
Kumul Petroleum is the State's nominee in the ExxonMobil operated PNG LNG Project (the "Project") in accordance with the Oil & Gas Act 1998. Kumul Petroleum has a 16.57% participating interest, the 3rd largest, in this multi-field, multi-party,
The four underlying PDLs run their own separate work programs on non Project defined areas within the PDLs. Kumul Petroleum, under the existing joint venture arrangements,
Through its co-ownership in PDL 1, Kumul Petroleum together with the PDL 1 partners, jointly sell gas to the Oil Search wholly-owned and operated gas-to-electricity plant (the "Hides Project").
Kumul Petroleum, together with its partners, is leading a commercial project to purchase gas from the PNG LNG Project and supply the gas to PNG Power or an independent power producer for power generation.
We want to attract and retain the best Papua New Guineans for important roles & responsibilities in the company, to ensure our current and future success in a highly demanding industry.
As we develop our Human Resource & Talent Management capacities, we will introduce the latest in HR Practices of the industry, ensuring our competitiveness on a global standard.
We are establishing a robust performance management system which will promote individual performance, talent development and succession planning.
Kumul Petroleum holdings Limited will create opportunity and enhance value for it's ultimate shareholder, the Independent State of Papua New Guinea (State) and its citizens as the major national oil and gas corporation.
To maximize the value of the nation's petroleum assets by participating in the whole value chain opportunities through diversify the benefits from the petroleum assets thereby creating wealth for the State and its people within the boundaries of good governance.