Today Kumul Petroleum Holdings announced that it had finalised agreement with Santos to purchase a 2.6% equity interest in the...
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Building the nation through our energy resources
Kumul Petroleum Holdings Limited (KPHL) is Papua New Guinea’s national petroleum and energy company, whose activities are primarily governed by the Kumul Petroleum Holdings Limited Authorisation Act 2015.
Since the company’s inception in 2009, it has operated as a commercial entity, underpinned by its participation in the PNG LNG Project. KPHL manages the State’s 16.57% equity shareholding in this development, making it the third largest shareholder in the US$ 19 billion project. In addition KPHL holds equity positions in a number of other petroleum licences in the country.
As Papua New Guinea’s State nominee, KPHL has a mandated option to take up to 22.5% equity in any operational petroleum project.
Apart from its project and licence area shareholding, KPHL is 100% owner and operator of four petroleum retention licences, has established the Kumul Petroleum Academy for specialist industry training, supports the construction of rural electrification infrastructure, health infrastructure and services (especially cancer and heart disease related), various sporting codes and other worthy community development initiatives.
Latest PNG Oil News
Crude Oil (BRENT)
USD 89+0.45+0.51%)
Last updated: 5th September, 2023
Natural Gas(per MMBtu)
USD 2.665-0.1(-3.62%)
Last updated: 5th September, 2023
Kumul Petroleum Projects
PNG LNG Project
KPHL holds a 16.57% interest in this multi-field project, operated by ExxonMobil. This US$19 billion project has extracted gas from fields in the Hela and Southern Highlands provinces since 2014. After condensates are stripped from the gas for export, they are comingled with Kutubu oil for export via the Kumul Terminal, whilst dry gas is transported through 700 kilometres of onshore and offshore pipelines to an LNG plant at Caution Bay, just outside Port Moresby, from where it is exported to long-term Asian customers ...
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Licence Interests
Apart from its shareholding in the PNG LNG Project, KPHL also has equity interests in other petroleum licences in the country, including four Petroleum Retention Licences containing gas discoveries where KPHL is the operator ...
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NiuPower - Assisting PNG Power’s Fuel Switch
Joint venturing with Santos, KPHL operates NiuPower Limited, which has constructed a 58MW gas-fired power station outside Port Moresby that has operated since September 2019, enabling PNG Power Limited to stop using diesel and heavy oil fired generators to supply the Port Moresby grid ...
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Rural Electrification
To assist achieving the National Government’s objective for 70% of the population to have access to electricity by 2030, KPHL is funding the construction of low voltage power transmission lines to connect rural communities with PNG Power’s high voltage Ramu Grid transmission lines in various parts of the country ...
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Contributing to Nation Building
The construction of the fabrication and training facility by Kumul Petroleum Holdings Limited will create direct employment for up to...
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K250 million interim dividend from Kumul Petroleum!
At Parliament House today Kumul Petroleum Holdings presented the Government with a dividend cheque for K250 million. Handing over the...
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Kumul Petroleum supports the 71st New Britain Open!
For the second year in a row, Kumul Petroleum, Papua New Guinea’s national petroleum and energy company, is a gold...
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