PDL7 owners launch company

THE landowners of petroleum development licence 7 (PDL7) in Hides, Koma electorate in the Southern Highlands, have a new umbrella company.
The Hides PDL7 Holdings Ltd was launched at Para Community School in Hides and witnessed by ExxonMobil and government representatives and the landowners.
Company chairman James Tandupe said the company represented the Agu, Mugago, Kela, Tugwele, Warapea, Onaka, Kajumba and Goane clans of Hides.
He said the company was also an affiliate of Hides Gas Development Corporation.
Hides PDL7 Holdings Ltd has two other joint ventures, which are Hides FO Joint Venture Ltd and JIC Hides Engineering Ltd. They have five other subsidiary companies.
Tandupe said the umbrella company was formed to boost organisational capacity, better governance, maximise landowner benefits, ensure effective and meaningful participation in the LNG project, effectively represent the landowners’ interest and aspirations, receive and distribute benefits fairly and provide equal opportunities for the landowners.
He said this was necessary so that the people would not miss out on developments taking place in the project area.
Tandupe said the company would go into full operation when the seed capital was released.
He also called on the landowners to respect the company management and commended ExxonMobil and the government for making available the business development grants to assist landowners.