K1bil into Gulf

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OIL Search plans to pump more than K1 billion into gas exploration in Gulf over the next three years, adding to the K3.2 billion already invested in the past five years.
Managing director Peter Botten assured leaders in Gulf this week that the company remained committed to the long-term development of the province.
He met with Governor Chris Haiveta and members of the provincial government and administration in Kerema on Wednesday. Also present were representatives of Kumul Petroleum Holdings, Mineral Resources Development Company, Department of Petroleum and Energy, and the Gas Projects Coordination Office.
“At the end of the day, Oil Search is here with its partners Kumul and MRDC, to help and work with the government and the people of Gulf develop this province,” he said.
“We see Gulf as a major area of exploration and will be spending over K1 billion on exploration, before any development happens over the next three years.
“It’s substantial investment, a great opportunity for Gulf to change its fortunes.
“We have spent a lot of resources on Tari and Hela. It’s now time for us to do the same for Gulf.
“I look forward to working with you and being able to deliver.
Botten said it was necessary for Oil Search, its partners Kumul and MRDC and major players such as ExxonMobil and TOTAL, “to listen to the aspirations of the people of Gulf and to actually develop the province”.
“Gulf has some great opportunities over the next five-plus years to develop a world-class gas business and related industries and to see both infrastructure and employment grow,” the Oil Search boss said.
“Let me tell you, I think it’s about time it happens.”
Oil Search is involved in gas fields in Gulf including Elk, Antelope, Barikewa and Uramu.

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