Craig Schulz

Kumul Petroleum

Kumul Petroleum is Papua New Guinea's national oil and gas company. We protect and maximise the value of PNG's petroleum assets so that it can contribute to the maximum wealth for the people of Papua New Guinea. Kumul Petroleum is responsible for managing the State's 16.57% equity in the US$19 billion PNG LNG Project, the largest single investment made by the nation to date. From 2014 to 2018, Kumul Petroleum remitted K4.2 billion to the Independent State of Papua New Guinea — more than 80% of the K5 billion revenue. In the same period, 470 shipments of LNG were exported. Kumul Petroleum's mission is to empower the people of PNG — with education, health and electrification particularly close to our hearts. Rural electrification will see 70% of the population having access to electricity in 2030, up from 14% today.