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Gulf clans set up LO company for LNG project
04-10-2013, 01:28 PM
Post: #1
Gulf clans set up LO company for LNG project

Obviously news is spreading that things are close. All landowner surveys have been completed as well as social mapping.

Gulf clans set up landowner company
Source:
The National, Wednesday 10th April, 2013
 CLANS in Gulf are gearing up for the country’s next LNG development in their province.
And they have formed a landowner company that will invest in fuel depot, department shops and real estate businesses once the Gulf LNG and Purari hydro power projects come on stream.
Elk/Antelope Landowner Company Ltd (EALCO) managing director Albert Kerut said yesterday that the 139 clans each contributed K200 to start the company because of major projects going on in the province.
They have invested K110,000 in a trade store business aimed to supply them goods and generate income for future business ventures.
He said both projects would bring high cash flows into the province and country, adding that EALCO was ready to participate in spin-off activities.
Kerut called on Gulf Governor Havila Kavo and Minister for Petroleum William Duma to recognise the well-head landow­ners before the development forum eventuates for the Elk/Antelope gas project.
“Gulf LNG project and the proposed Purari hydro power projects are multi-billion dollars projects which will benefit Gulf and the country.
“Our organisation was formed after proper social mapping, landowner verification and identification exercise was conducted by exploration company InterOil as required by Oil and Gas Act.
“We request that minister for petroleum and energy recognises our company’s existence and assists us with much-needed resources so we can actively participate in this projects spin-off business activities,” Kerut said.
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04-10-2013, 09:40 PM
Post: #2
RE: Gulf clans set up LO company for LNG project
"Kerut called on Gulf Governor Havila Kavo and Minister for Petroleum William Duma to recognise the well-head landow­ners before the development forum eventuates for the Elk/Antelope gas project.
“Gulf LNG project and the proposed Purari hydro power projects are multi-billion dollars projects which will benefit Gulf and the country.
“Our organisation was formed after proper social mapping, landowner verification and identification exercise was conducted by exploration company InterOil as required by Oil and Gas Act.
“We request that minister for petroleum and energy recognises our company’s existence and assists us with much-needed resources so we can actively participate in this projects spin-off business activities,” Kerut said."


Looks like landowner problems for IOC! Landowners are falling all over themselves to line up and sign off, I sure hope no one hurts themselves.
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04-10-2013, 09:56 PM
Post: #3
RE: Gulf clans set up LO company for LNG project
This article is really great news. Many of the delays and problems with the OSH/XOM was landowner issues. Looks like the government and IOC learned from those mistakes and are being proactive. IOC's presence in PNG for such a long time makes them a friendly face and name. IOC being an excellent business partner and corporate citizen in PNG will pay off in dividends when construction begins.
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04-10-2013, 11:39 PM
Post: #4
RE: Gulf clans set up LO company for LNG project
So they have a group of people with K110,000 in capital. What kind of resources and recognition do they need from Duma to start up the business? Sounds like either trouble or naivete.

Maybe IOC needs to sell them a gas station/mini-mart franchise and help them build it with Duma needed to grant the business license. I suspect locals aren't bringing fuel into Kerema anymore by canoes given the new road so getting the fuel into town won't be as large a challenge.

But then according to those World Bank videos there is already somebody running a fuel franchise so there'd be a case for dispute. Thankfully the beheading appears to be a practice limited to Bougainville.

I suspect just minutiae and not of any consequence. Can anyone imagine the number of balls O'Neil must have in the air these days?
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