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Kumul Petroleum is Papua New Guinea’s national Oil and Gas Company

Kumul Petroleum has adopted current world’s best practice standards applied in the oil and gas resource industry. Kumul Petroleum is committed to observing in all its business operations and dealings, the principles of transparency and open reporting.

It has established internal systems and procedures designed to empower the Board with the confidence to provide strategic guidance to the Company and to give effective management. The principles of good governance and accountability are captured in the Board Manual and the policies and charters adopted by the Company.

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Board Manual

The Board Manual defines the overall conduct of the Board, the roles, responsibilities and functions of the Board and each director.

Board Charters and Policies

The main Company charters & policies approved by the Board are:

  1. Remuneration Committee Charter;
  2. Risk, Finance and Audit Committee Charter;
  3. Major Investment Committee Charter;
  4. Community and Social Responsibility Committee Charter;
  5. Tender & Contract Committee Charter
  6. Procurement Policy
  7. ICT Policy
  8. Delegation of Authority Policy
  9. Human Resources Manual and Policies