Gulf clans set up landowner company

Business, Normal

The National, Wednesday 10th April, 2013

 CLANS in Gulf are gearing up for the country’s next LNG development in their province.

And they have formed a landowner company that will invest in fuel depot, department shops and real estate businesses once the Gulf LNG and Purari hydro power projects come on stream. 

Elk/Antelope Landowner Company Ltd (EALCO) managing director Albert Kerut said yesterday that the 139 clans each contributed K200 to start the company because of major projects going on in the province.

They have invested K110,000 in a trade store business aimed to supply them goods and generate income for future business ventures.

He said both projects would bring high cash flows into the province and country, adding that EALCO was ready to participate in spin-off activities.

Kerut called on Gulf Governor Havila Kavo and Minister for Petroleum William Duma to recognise the well-head landow­ners before the development forum eventuates for the Elk/Antelope gas project.

“Gulf LNG project and the proposed Purari hydro power projects are multi-billion dollars projects which will benefit Gulf and the country.

“Our organisation was formed after proper social mapping, landowner verification and identification exercise was conducted by exploration company InterOil as required by Oil and Gas Act.

“We request that minister for petroleum and energy recognises our company’s existence and assists us with much-needed resources so we can actively participate in this projects spin-off business activities,” Kerut said.