Oil Search : Landowners invest in sustainable project

Landowners invest in sustainable project

PNG Media Release

Wednesday, 14 February 2018

Landowner companies in the resource rich provinces of Hela and Southern Highlands are diversifying their investments to the agriculture sector with the support of Oil Search and Business for Development.

Trans Wonderland Limited (TWL) and the Papua New Guinea Mining and Petroleum Hospitality Services (PNGMPHS) were first of four landowner companies to pay their share of start-up capital for Highlands Pik Kompani Limited, a commercial piggery project.

TWL paid K100, 000 (33%), whilst PNGMPHS paid K25, 000 (9%).

The other partners include Gigira Development Corporation (33%), Mananda Umbrella Joint Venture (15%) and Innovative Agro Industry (10%) who are set to pitch in their share in the coming months to get the venture off the ground.

Larry Andagali, Managing Director of Trans Wonderland commended Oil Search for taking the initial steps to unite the companies and get them to invest in the project that would have mutual benefits for all parties.

"TWL would like to thank Oil Search for your focus on community engagement activities, which will provide sustainable options for our people. For the last 27 years, we have been paying them royalties and dividends but without a savings culture, monies were just used up.

"The Highlands Pik Kompani concept is now providing them with this option to invest. I am behind this concept 100%. Thank you Oil Search for this initiative and for other good sustainable initiatives in improving education and health.

"As a proud landowner company we're pleased to be part of this project that will bring improvement to the lives of our people," Mr Andagali said.

PNGMPHS Chairman Peter Heno said such a sustainable project would have a lasting impact on local communities by helping them become self-reliant.

"This project has many positive outcomes for both our people and company and I thank Oil Search for their vision to bring this project to life," Mr Heno said.

"Piggery is part of our livelihood and this initiative is now commercialising it as an income generating opportunity."

Mr Heno also said PNGMPHS will use the Highlands Pik Kompani learnings to pursue marketing and distribution of Kutubu sago in the near future.

Leon Buskens, Oil Search General Manager for PNG Stakeholder Engagement, thanked both companies for taking the lead.

Oil Search Limited

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"Oil Search thanks both Trans Wonderland and PNGMPHS for their contribution towards the Highlands Pik Kompani, a project which has huge potential to empower our people in the villages to be part of development."

"As agriculture and pig livestock is part of our peoples' DNA, this is a great opportunity to engage them in business activities that will benefit them in the long run. It is also good in a business sense for our landowner companies to diversify their businesses to be sustainable and operate beyond the project lifetime," Mr Buskens said.

Mr Buskens also highlighted the importance of the project saying it was a positive investment for all parties involved.

"The partnership is an important step towards engaging our people in income generating activities which will bring change to their livelihoods," he added.

The piggery project is intended to encourage and facilitate associated inclusive business activities across a number of commercial activities, including a feed mill, slaughter facilities, product preparation area and storage freezers providing direct income-earning opportunities for people in rural areas.

The Highlands Pik Kompani set-up is planned for Tari in the Hela Province.

End.

For further information, please contact:

Ruth Waram

Manager, PNG Communications Oil Search

Mobile: 71906078

Photo

L-R; Zono Apao - Oil Search Business Development Advisor, Leon Buskens - Oil Search General Manager for PNG Stakeholder Engagement, Larry Andagali - Trans Wonderland Limited (TWL) Managing Director, Peter Heno - Papua New Guinea Mining and Petroleum Hospitality Services

Chairman and Angelo Andaija - TWL General Manager.