Kumul Petroleum Holdings Limited (KPHL) recently convened a strategic alignment workshop at the Grand Papua Hotel to strengthen internal coordination and reinforce the company’s governance, transparency and accountability agenda.
The workshop brought together the KPHL Board of Directors, senior executives, middle-level technical and professional managers and coincided with the formal transition of Board leadership from Mr. Gerea Aopi to incoming Chairman Ambassador Isaac Lupari. The workshop provided an opportunity to consolidate progress already made, and to position KPHL for a more disciplined, visible and performance-driven phase of growth.
KPHL chairman, Isaac Lupari said the workshop was designed to reset operational priorities, build a common understanding of KPHL’s current position and strengthen working relationships across the organisation.
The workshop enabled the Board and management to take stock of key operational, financial, investment and governance matters, and to agree on the areas that require closer attention as part of KPHL’s forward work programme. Chairman Lupari said the process was important because KPHL manages petroleum interests and commercial opportunities on behalf of the State and the people of Papua New Guinea.
“Strong governance, clear internal controls, disciplined investment decision-making and transparent reporting are essential to maintaining public confidence and ensuring that national petroleum assets are managed responsibly.” Mr Lupari said.
During the workshop, the Board and management reviewed KPHL’s operational footprint and investment portfolio, including current assets, project performance, ongoing initiatives and future development pathways.
Key activities considered included the Motukea Fuel Facility, the Fabrication and Training Facility, Special Economic Zone infrastructure at Caution Bay, seismic exploration activities, and development options for onshore and offshore petroleum licences.
The workshop also considered procurement, project delivery and governance processes in order to strengthen systems, clarify responsibilities, improve internal controls and ensure that future decisions were aligned with applicable laws, approved delegations and recognised standards of corporate governance.
The workshop noted that KPHL recognised its important public mandate as PNG’s national petroleum and energy company, and the commitment of the Board and management to ensuring that the company decisions, investments and operations are guided by sound governance, commercial discipline and the protection of national value.
Mr. Lupari said, “The purpose is not to prejudge any matter, but to build a stronger institutional foundation for KPHL going forward. Our immediate priority is to restore, strengthen and institutionalise governance frameworks across all key areas of KPHL’s operations, including investment approvals, financial disbursements, procurement, financial delegation, marketing, and community and stakeholder support protocols. Transparency and accountability must be embedded in the way KPHL operates.”
The Board emphasised that public communication must be clear, measured and responsible, so that KPHL will continue to provide information to stakeholders in a manner that supports confidence in the company, avoids unnecessary speculation and reinforces the company’s commitment to lawful, commercially sound and transparent decision-making.
Chairman Lupari said the company is focused on building a stronger institution that protects public wealth, maximises asset value, supports national development and operates with integrity at every level.
“Following the establishment of a clear operational and governance baseline, the Board and management will progress a strategic roadmap for KPHL. This roadmap will focus on commercial viability, disciplined investment management, strengthened internal controls, improved reporting, and responsible development of petroleum opportunities for the benefit of Papua New Guinea.”
He said KPHL will maintain regular consultation with key State stakeholders, including the Trustee and the Minister Delegate, to ensure alignment with Government expectations and continued accountability to the people of Papua New Guinea.
