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Kumul Petroleum Awards Two Contracts

Kumul Petroleum Holdings Limited (KPHL) has awarded two contracts to Chiyoda Corporation of Japan in partnership with Moss Maritime of Norway, and Wison Offshore and Marine based in Shanghai, China for the design and the development of a floating, storage, re-gasification and power (FSRP) generation unit in Lae.

The state-owned firm said that the awarding of these contracts would facilitate extra electricity generation for the people.

KPHL said that it had worked on the robust facility development and design request for quotation and evaluation process. This has attracted some of the most experienced floating offshore facility construction and engineering firms of the world.

The mandate of Kumul is to distribute and aggregate both domestic and equity-invested gas allocations from present and future PNG development projects.

“Kumul Petroleum has awarded these contracts on the basis of holding a design competition between the two requests for quotation compliant engineering contractors (one Japanese and one Chinese) as each of their design options presented offered very different, and very interesting, value benefits to PNG, such as significant capital cost reductions and fast track schedules.”

“Kumul Petroleum has taken a leadership role by awarding these two design and engineering development contracts that will facilitate the additional electricity generation for the people of PNG and assist in fast-tracking development of the heavy industry.”

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