Kumul Petroleum Holdings Limited (KPHL) is Papua New Guineaâ€™s national oil and gas company (NOC). The NOC was created by an Act Parliament through the Kumul Petroleum Holdings Limited Authorization Act 2015 which replaced NPCP Holdings Limited.
Through Kumul Petroleum Authorization Act 2015, KPHL is mandated to protect and maximize the value of the Countryâ€™s petroleum assets such that it can contribute to the maximum wealth for its ultimate shareholders; the 7 million plus people of Papua New Guinea.
Since its inception in 2009 as NPCP Holdings, the NOC was operating as a commercial entity with its core commercial interest being its participation in the PNG LNG Project.
KPHL is currently responsible for managing the Stateâ€™s 16.57% equity in the US$19 billion PNG LNG Project through its subsidiary Kumul Petroleum (PNG LNG) Limited; becoming the 3rd largest partner in the largest single investment made by the nation to date.
KPHL has the potential to be like Petronas because it has high oil and gas resources and exploration potential in the country that it will always have an option for 20.5% stake in every development
With the vision, KPHL can grow to be a multi-billion dollar company and even start venturing into offshore carrying its national flag everywhere.
And that is what KPHL truly means to say â€˜creating wealth and opportunities for Papua New Guinea now and into the future.â€™
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.