Kumul Petroleum Holdings Limited, Hevehe Petroleum Limited and Twinza Oil (PNG) Limited recently signed a Memorandum of Understanding to jointly investigate gas aggregation opportunities in the Gulf of Papua.
The Memorandum of Understanding enables the joint study and evaluation of the technical and commercial feasibility of aggregating gas from discovered or prospective gas assets within the Gulf of Papua area for domestic use or export via shared infrastructure.
Dr. Luke Liria, Acting Managing Director of Kumul Petroleum stated: “KPHL, as the national petroleum and energy company, looks forward to partnering with MRDC and Twinza to explore pathways that could accelerate the development of Papua New Guinea’s offshore gas resources and contribute to the national economy.”
