The Papua New Guinea Government has revived the National Petroleum Company of PNG (NPCP), a state-owned entity which will be the custodian of the nation’s 16.8% stake in the ExxonMobil-led PNG LNG Project and other future gas projects.
Last Friday, a new board and Acting Managing Director was sworn in.
A previous version of the NPC was shelved by the O’Neill Government in November 2011.
‘We want NPCP to become the single biggest petroleum company in the Pacific,” Finance Minister James Marape told the newly-appointed board, according to The National.
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