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Kumul Petroleum supports Papua New Guinea’s national response to combat and contain Covid-19

Kumul Petroleum supports Papua New Guinea’s national response to combat and contain Covid-19

Kumul Petroleum Holdings Limited (Kumul Petroleum) officially announces today its support to Papua New Guinea’s national response to the threat of Coronavirus (Covid-19) and encourages other corporate organisations and businesses to do the same.

Kumul Petroleum Managing Director Wapu Sonk said the organisation on behalf of the shareholders of the company, the people of Papua New Guinea, presented K5 million on top of a K100 million interim dividend payment for 2020 this week. The company hopes this funding will help Government with its preparedness to combat and contain Coronavirus in our country.

“As the National Oil Company of Papua New Guinea we are very much concerned in the health and wellbeing of our citizens from this looming public health issue that we have stepped in to help the Government. These are hard times for everyone, and the company too is going through tough times itself due to the recent sharp decline in oil and LNG prices, which is the sole revenue source. Despite the challenges we face as a company, for us it has always been about giving back to the country, so helping the country in its time of need, far outweighs  any need for self-preservation", said the Managing Director, Mr Sonk.   

Mr Sonk extends his gratitude to the many organisations and development partners that are already supporting the government and especially thanks the many government officials from the various agencies who have worked tirelessly at the frontline to protect the country. In particular, he thanks also the National Department of Health and the many health care professional for their commitment to ensure that the country is well prepared for the next course of action.

“Kumul Petroleum will work with the government and the National Department of Health to ensure that the funds donated will be used to help further support preparedness of its containment efforts, that include the supply of equipment and PPE needed to protect doctors, nurses, paramedics and other health professional who are at the frontline, and who continue to work together to support their country’s efforts to stop Covid-19 from spreading any further,” Mr Sonk said.

This is not the first time that Kumul Petroleum has supported national response to emergencies with an injection of funds aside from the dividends government receives from its 16.57% equity in the PNG LNG Project. In 2018, Kumul Petroleum donated K50 million to assist the National Government’s earthquake disaster relief efforts, and more recently in October 2019, donated K100,000 to assist with relief work to the victims of the Mt Ulawun volcano disaster in West New Britain Province.

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