Kumul Petroleum Holdings Limited has advised of the transfer of its Board chairmanship from Gerea Aopi, MBE, to fellow director Mr Isaac Lupari CBE GCL.
Isacc Lupari will take over as KPHL Chairman starting 19 May. The transition process between the two directors has been ongoing mid-April to ensure a smooth changeover and leadership continuity.
The transition is required by law. Under the KPHL Act, directors must retire at age 72, and Chairman Aopi will reach this milestone on 18 May. He has formally notified the Trustee, Prime Minister Marape, that he will step down on that date.
Chairman Gerea Aopi said, ” I have been privileged to serve as Chairman of KPHL and extend my sincere appreciation to the Trustee, Prime Minister, Hon. James Marape for his confidence and support during a period of overwhelming challenges.
“Since taking office in the last quarter of 2025, my fellow directors and I have made strong progress — we have implemented strict cost containment and strengthened financial controls, refocused capital investment on core petroleum assets, restored governance, signed off on the 2022 audited accounts and advanced major projects.
“KPHL has been stabilised due to the resolve and commitment of the current Board. However, the work is far from finished, and am certain that Mr. Lupari will continue to progress the initiatives that we have started.” Aopi expressed.
Mr Lupari, in acknowledging Mr Aopi, said, “Gerea’s vast experience and knowledge in the petroleum industry has contributed significantly to the ongoing organisational changes, and the Board thanks him for his leadership.”
“I’d also like to express my gratitude to the Trustee, Prime Minister, Chief James Marape for appointing me to the KPHL Board and having confidence in me to succeed as KPHL chairman.”
He said Kumul Petroleum received another clean audit for 2022, extending its record of unqualified audit opinions since establishment in 2014, attributing its completion to Mr. Aopi’s chairmanship.
“This is good news for Kumul Petroleum at this critical time when our main focus is preparing to take up equity in the forthcoming Papua LNG Project,” Mr. Lupari said.
Both men noted that the receipt of the 2022 audit, and its end-of-year balances, would fast track the finalisation of the subsequent 2023 and 2024 audits before the end of the year.
Mr Lupari stressed that KPHL remained committed to continuing to work closely with the Government, industry partners, and financiers to achieve sustainable growth and national prosperity.
KPHL acting managing director Dr Luke Liria expressed his gratitude for the privilege of having worked under the guidance of the outgoing chairman, Mr Gerea Aopi.
“Over the past eight months, his leadership has been instrumental in steering our organisation. Chairman Aopi prioritised both general and project governance, ensuring our operations are conducted with the utmost integrity and transparency. Gerea’s wisdom and experience have been invaluable to our organisation over the past eight months. His contributions have set a strong foundation that will benefit the organisation moving forward.”
“We welcome Mr Lupari, who brings many years of experience in the government sector. I look forward to continuing with Ambassador Lupari to grow and expand KPHL as a reputable national oil company in the nation and the region.”
Kumul Petroleum remains a cornerstone in the development and safeguarding of PNG’s natural resources sector, whilst simultaneously contributing to achieving socio-economic goals through our nation-building projects.
