Petroleum

Petroleum, Oil and Gas Subsidiaries

The MRDC holds participating equity interests on behalf of project area landowners and respective provincial governments in the three petroleum projects in the country. They include the Kutubu, Moran, and Gobe petroleum projects. MRDC’s mandate to manage these interests is through the Oil & Gas Act.

MRDC also holds participating equity interest on behalf of project area landowners and respective provincial governments in the PNG LNG Project. Under the UBSA and LBSA signed in 2008 and 2009 respectively, the 2.81% equity interest is shared amongst landowners from the gas fields, the pipeline and processing facilities, and the Hela, Southern Highlands, Gulf, Western, and Central provincial governments

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