After ten years in the resource sector local landowner company KutMor Limited now looks at venturing out of the Oil and Gas business and into other business areas.
The landowner company (Lanco) recently marked its 10th Anniversary in Port Moresby where it looked back on the years of its operation and the contributions to the landowner groups that make up the shareholders of the company.
The Lanco’s Deputy Chairman Mr. Nelson Alina said KutMor is not only focused on creating wealth but build its capacity to provide opportunities like employment for the future generation of Moran and Kutubu landowners, when the oil and gas projects cease in the future.
“We are going in that direction by taking a step each day to move out from the oil and gas focus business to other business interest outside of the oil and gas project area.”
KutMor is a local company owned by the Incorporated Land Groups (ILG) and others who are directly impacted by the Kutubu, Moran and Mananda areas, located in the Southern Highlands and Hela Provinces.
The Lanco was formed as a direct result of meetings by landowner leaders and Lanco leaders in late 2011 and early 2012. The company is structured into 14 share classes each representing a discreet geographic area either within or in a buffer area in close proximity to the existing Petroleum Development Licenses (PDL) 2, 5 and 6.