Local firm earns two-star rating for performance

Business, Normal

The National- Tuesday, January 18, 2011


A LOCAL company from the PNG LNG project areas has been given a two-star rating by Enterprise Centre (EC), the business centre established by ExxonMobil to help project landowner companies venture into the PNG LNG project.

Gigira Development Corp Ltd (GDCL), one of the 13 ExxonMobil- recognised major landowner companies from Hides petroleum development Licence (PDL), has performed "exceptionally well" under set business practice standard with an overall rating of 2.2.

The assessment by EC entailed a review of eight critical operational areas of business and corporate functionalility within the business, namely: 

1) Organisation and governance; 

2) Operations and management; 

3) Financial management, personal management; 

4) Equipment & inventory control; 

5) Safety, health & environment; 

6) Quality assurance; 

7) citizenship; and 

8) reputation.

The rating elevatef GDCL to level two standard, meaning, it can compete with major and engineering and procurement construction (EPC) contractors in the PNG LNG project.

EC manager Sweta Sud and consultant Peter Impey lauded GDCL for improving the operations which ExxonMohil seriously considered for best business practices.

Sud said the rating did not automatically guarantee a contract by any EPC but it was a good rating that would put GDCL on equal footings with other major international contractors for the LNG project.

Sud assured the rating report and profile of GDCL would be updated and put on the dashboard or supplier data base for LNG and whenever an EPC or ExxonMobil needs their services, they will notify so that the required services can be provided. 

GDCL chairman Stanis Talu said to have come this far from 1.8 rating in the previous assessment reflects the best business practices GDCL strives to be.

Talu said, however, expressed concern that there is no contract for his company to participate in the project.

"ExxonMobil and the government tell us where we come to participate as project landowner companies.

"We have all the necessary equipment, man power, finance and technology but there is no guarantee that we’ll secure a contract,” Talu said.