IBBM, Esso to set up business centre

Business, Normal

THE Institute of Banking and Business Management (IBBM) has signed a five-year agreement with Esso Highlands Ltd to set up and operate an enterprise centre.
The centre will operate for the PNG liquefied natural gas (LNG) project being developed by Esso Highlands Ltd, a subsidiary of ExxonMobil Corp.
The deal was signed by Esso managing director Peter Graham, IBBM directors Ross Hammond and Central Bank governor Loi Bakani.
“The engagement and development of PNG businesses is an important aspect of the PNG LNG project’s National Content Plan and the Oil and Gas Act,” Mr Graham said.
The centre will facilitate communication between national suppliers, contractors and subcontractors; make public business opportunities; maintain a PNG supplier database; and facilitate access to project information.
A statement by IBBM said the centre would also build capacities of national companies by providing business improvement services such as gap analysis, consulting and advisory services; and organising seminars, developing business training plans and providing training.
The centre would act as an independent institution and will be located within the IBBM premises at Vanama Crescent, Port Moresby.