GAS RESOURCES GIGIRA LIMITED WELCOMES FOUR DIRECTORS

The Mineral Resources Development Company (MRDC) announced that four newly appointed landowner directors of Gas Resources Gigira Limited (GRG) attended their inaugural board meeting, held on June 2nd in Port Moresby city.

They are Mr. Libe Parindali, Mr. Thompson Mugubigo, Mr. Philip Iruka, and Mr. Thomas Dara Ola. The directors represent the Hiwa and Tuguba clans.

MRDC stated that they join ex officio directors on the board of GRG which include Hela Governor Philip Undialu, Department of Petroleum Secretary Mr. David Manau, State Solicitor Mr. Daniel Rolpagarea, National Energy Authority Executive Director Mr. Ronald Meketa, and MRDC Managing Director Mr. Augustine Mano.

“The inaugural board meeting for the four directors followed a two-day workshop MRDC conducted for the new directors. The directors were briefed on their roles and responsibilities, the governance structure of the company, and an overview of the company’s finances, investment and community investment trust fund projects,” MRDC said.

MRDC Managing Director Mr. Mano expressed delight that the biggest landowning group in the PNG LNG project was finally able to meet the requirements of the Oil & Gas Act in opening clan bank accounts and appointing their directors to their Trust Board.

“I must commend MRDC and stakeholders including ExxonMobil, Santos, DPE, KPHL, and the security forces for the successful completion of phase 1 of the PDL1 Clan Bank Account Opening and Director Election exercise in 2024 which resulted in us convening this inaugural meeting of the GRG Board.

“I’m pleased that the landowning clans have appointed experienced and highly respected leaders to be Directors on the board of their Trust. Their appointment gives me confidence about the long-term strategic interest of GRG,” Mr. Mano said.

Hela Governor Philip Undialu stated that this demonstrates their collective commitment to sound governance, ensuring benefits from their natural resources are equitably realized for the prosperity of communities within the Hela Province.

“As a Landowner Director, I am honored to serve on this Board and directly represent our communities’ voices.

This step ensures our people are active participants and direct beneficiaries. I commit to working collaboratively for sustainable economic growth and long-term prosperity for our regions and the nation.

PDL1 significantly contributes to Papua New Guinea’s gas and condensate production, supporting four greenfield projects. It also holds one percent equity interest in the PNG LNG Project,” stated Mr. Libe Parindali.

MRDC added that the election of four additional landowner representatives is pending the determination of a National court sanctioned alternate dispute resolution that is currently ongoing. The four will represent JP Karai (1), Tugubu (1), and Hiwa (2) clans.

“Consistent with an agreement reached during the UBSA in 2009, the Gigira Trust will be split into two, to best cater for the interest of all the beneficiaries of PDL1,” MRDC said.