Landowner account opening confirmed, no travel facilitation

The National Business

PETROLEUM Development Licence No. 7 (PDL 7) landowners in Hela will have their clan account opening exercise on Tuesday.
Mineral Resources Development (MRDC) said the process would mark the final stage before PDL 7 landowner beneficiaries could start receiving their royalty and equity benefits from PNG LNG project.
Managing director Augustine Mano said it was important that all landowner beneficiary and stakeholders support the account opening.
“This notice is for the landowner clans in PDL 7, who have been identified as beneficiaries under Section 169 of the Oil and Gas Act,” Mano said.
“This major exercise will be a joint effort led by MRDC and supported by Kumul Petroleum Holding Ltd and the Department of Petroleum (DoP).”
He said in a notice that the exercise would include the following activities:

  • Awareness on process of clan account opening and directors’ election;
  • clan benefit certificates;
  • clan bank account opening; and,
  • election of board director – Gas Resources Hides 4 Limited.

PDL major clan groups are Parepare Ketereanda region clans, Tawanda Tokaju region clans, Timlia Kangulu region clans and middle region clans with account opening to be conducted at Para (Nov 12), Kapote (Nov 13), Yarima (Nov 15) and Para (Nov 16) respectively.
Mano urged all clan members to be present at the locations.
He said the DoP and the Office of the Solicitor-General had given clearance to proceed with the opening of the bank accounts.
Mano advised landowners based outside the province that MRDC would not be facilitating any travels to the locations.