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MINISTER FOR STATE ENTERPRISE LAUNCH BIGGEST OIL AND GAS COMPANY IN PNG Minister For State Enterprise Ben Micah
MINISTER FOR STATE ENTERPRISE LAUNCH BIGGEST OIL AND GAS COMPANY IN PNG 05 Mar 2013
MINISTER FOR STATE ENTERPRISE LAUNCH BIGGEST OIL AND GAS COMPANY IN PNG
By Tauna George.
Papua New Guinea is poised to take a seat in the Oil and Gas sector, producing countries internationally through its own company, the National Petroleum Company PNG or NPCP.
Minister for State Enterprise Ben Micah said this is an important event in progressing this national iconic company to manage the states interest in the LNG Project.
The company is believed to be worth more than K20 billion.
Minister Micah says coupled with the energy requirement of the industrialized work, NPCP certainly will become the single biggest company, that 100 percent Papua New Guinean owned.
He said we must not allow our oil and gas to be sold cheaply and be mere royalty and dividend collectors, which is pre-determined, but he called on the Chairman of NPCP Frank Kramer to negotiate better deals in oil and gas prices for PNG.
NPCP was formally known as Kroton in 2008, as the states nominee in the PNG LNG project, having 16.57 percent stake in the project and is the third largest partner behind Exxon Mobil and Oil Search.
Meantime, the launch of the National Petroleum Company PNG took place last Friday at the Gateway Hotel in Port Moresby.