Gas clans open bank accounts

  • Apr 24, 2019
  • The National

THE Mineral Resources Development Company (MRDC) has helped with the opening of 58 clan bank accounts for segments 4 and 5 of the PNG LNG Pipeline in Moro, Southern Highlands.

MRDC, as the State nominee tasked with managing the benefits of the pipeline landowners from segments 1 to 8 under the PNG LNG Pipeline licence No.4, also delivered a second director who will represent segments 4 and 5 to the board of the trust company Gas Resources PNG LNG Pipeline Limited.

With the help of the Department of Petroleum and Energy (DPE), Kumul Petroleum Holdings Ltd, ExxonMobil PNG, Oil Search, Bank South Pacific, PNG Electoral Commission and the police, MRDC carried out a four-week exercise which saw the opening of the bank accounts in which the outstanding benefits will be paid and conducted the election of the new director.

MRDC said that during the first two weeks of the exercise, its team – led by external affairs and sustainable development general manager Imbi Tagune – conducted awareness on how the benefits would be shared according to the Oil and Gas Act, preparing them for the opening of the bank accounts and election of their director, and educating them about the trust company and its processes.

In the third week, 20 major and 38 sub-clan bank accounts were opened at the BSP Moro branch.

MRDC also photographed all clan signatories for future reference and identification.

The final week of the exercise saw the Electoral Commission conduct a non-parliamentary election of the director for segments 3 and 4 in which Telabe Babena was elected.

Despite minor disputes over the signatories to the bank accounts, the team helped the clans resolve their issues and have the accounts opened.

Tagune thanked the two segments for allowing a peaceful exercise to take place by cooperating with his team on the ground.

“I thank all our partners, and all those involved in helping to successfully complete this programme for segments 4 and 5.

“This is not the end, we have four more segments to complete before we can see the benefits flow to the people.”