The Mineral Resources Development Company (MRDC) has completed disbursement of royalty and equity payments (cash benefit) for the PNG LNG Plant Site landowners in Central province.
The benefitting clans are from Papa, Rearea, Porebada and Boera villages outside Port Moresby, where the PNG LNG Project processing and export facilities are located.
A total of K74,147,996 – representing 40% of total benefit – was disbursed into the bank account of 83 benefiting clans.
The royalty payments covers the period from 2022 to current, whilst equity payments cover 2018 to the present.
Under the Oil and Gas Act established benefit structure, 40% of royalty and equity payment is distributed as cash payment to beneficiaries, whilst the remaining 60 percent is allocated for the Community Investment Trust Fund (CITF) and Future Generations Trust Fund (GFTF) programs (30% each).
Prior to the disbursement, the MRDC External affairs team, comprising petroleum coordinators conducted awareness sessions in the four villages.
These awareness sessions outlined to the villagers the total royalty declared per year, the distribution structure in accordance to the PNGLNG royalty payments breakup, and informing them that all PNGLNG royalty payments will be paid directly into their bank accounts, and the payment timeline.
The National Petroleum Authority (NPA) as the regulator, participated in this program and provided feedback to the beneficiaries’ questions.
MRDC Managing Director and CEO Mr. Augustine Mano CBE, commended MRDC and NPA officials for the smooth and efficient manner in which the awareness and disbursement of benefits was carried out in the last two weeks.
He also thanked the plant site villagers for their patience, and urged them to spend their benefits wisely.
Mr Mano acknowledged the strong leadership and governance provided by the Gas Resources Plant Ltd Chairlady Ms Ulato Avei and the GR Plant Site Directors over the last seven years.
Their stewardship and commitment has been instrumental in maintaining unity among the clans and supporting MRDC in delivering benefits efficiently and fairly.
MRDC is now preparing of making payments for the other PNGLNG affected beneficiaries, being pipeline landowners (across 7 segments in Gulf, Southern Highlands, Western and Hela) and Hides PDL 7 in Hela province.
