Praise for restructure

 NATIONAL Petroleum Company PNG (NPCP) chairman Frank Kramer (pictured) has praised the National Government for approving the draft legislation pertaining to the Kumul restructure.

Kramer said this would “ensure our National Petroleum Company and our minerals company have strong consolidated balance sheets to be able to participate in all the large projects about to be developed in PNG”. 

He said NPCP believed the restructure was the right thing for the country, especially when PNG LNG Project has started exporting LNG and more Projects are in early stages of development.

“The commercial partners now will have only one entity to deal with when it comes to oil and gas business in the country,” Kramer said.