Kumul Petroleum looks at energy solution for Lihir mine

KUMUL Petroleum Holdings Limited is working with MRL Capital, the Lihir landowner company, to find energy solutions to the Lihir mine and the islanders are using natural gas and other energy sources.
A memorandum of understating was signed last week between the two companies for a feasibility study to evaluate power sources including gas, to determine if it is economically viable.
Managing director Wapu Sonk said as part of its vision to create value and opportunities for people, Kumul Petroleum Holdings Limited would explore the potential to supply alternate energy solutions in PNG, including using liquefied natural gas.
“We are excited to take on this initiative especially because it will empower the people of Lihir where one of the largest gold mines in the country has been operating for many years,” Sonk said.
“We hope that we can build from this (memorandum) with MRL Capital to supply LNG and gas-fired power solution to Lihir mine and supply excess electricity to the Lihir community as part of our community obligation programme.”
Chief executive officer of MRL Capital Lawrence Rausim said they would seek the support of Lihir Gold Limited to participate in assessing available energy solutions, including liquefied natural gas for the gold mine.
Rausim said MRL Capital Ltd would source co-investors, equity partners and technical know-how, expertise and end-user clients for the project.
“We are very excited to be partnering with the national oil and gas company in this endeavour which we believe will be a transformational project for our people.”
MRL Capital Ltd is the trustee manager of the Lihirians Equity Trust established in accordance with a Deed of Trust Settlement dated Sept 14, 1997, and amended by an order of the National Court dated Nov 21, 2006.
The trust’s mandate is primarily to provide for the long-term benefit of the people of the Lihir Group of Islands.