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Kumul Petroleum Gets Power Project Licence

Kumul Petroleum Holdings Limited has been granted a power distribution licence by the Independent Consumer and Competition Commission for its Niupower gas fired power plant joint venture with Oil Search.

Managing director Wapu Sonk announced this week. Mr Sonk said the licence to generate power will be coming online very soon and is part of KPHL’s strategic commercial goals following a study undertaken by Wood Mackenzie on how the company can utilise its unused gas. He said that is the main reason why KPHL has aggressively pursued the government’s 70 per cent electricity project. Mackenzie said:

“If you were going to use your balance of gas on something, prioritise it on something like electricity because cheaper the electricity well known industries will come, the economy will grow and the GDP will double and you will have the highest impact in the GDP if you pursue this agenda.”

Mr Sonk said that is why they have invested in this new highly efficient gas power station (58MW under NiuPower), and have also worked on other issues such as power distribution in the Highlands.

“We have invested in the NiuPower project; we have invested in the Southern Highlands and Hela project and now is to distribute power because we see this as the highest impact on our people’s living standards.

“We got the licence to generate power (Niu power) so it’s coming online very soon,” he said. Meanwhile a further announcement regarding this license will be made by the ICCC in the coming week.

Continue reading at https://postcourier.com.pg/kumul-petroleum-gets-power-project-licence/ | Post Courier

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