Published in the Post Courier on 13 May 2019
BY MATTHEW VARI
Oil Search has given an update of its power project investments to date. This followed queries by shareholders during the Company’s annual meeting held in Port Moresby on Friday 10 May 2019.
Managing director for Oil Search Peter Botten said the NiuPower gas-fired power plant, a joint venture investment with Kumul Petroleum Holdings, is awaiting final approvals from the Independent Consumer and Competition Commission (ICCC) before production can begin at the 58 megawatt plant.
“The final piece of the jigsaw to go into full production is ICCC approval of the generation licence and then we can move forward with full scale production then we are okay to go,” Mr Botten said.
“I know ICCC visited the plant site (Thursday, May 9) and they are doing their due diligence right now to be able to issue the ICCC certification.
“We hope that that will come very soon, it does provide cheaper into the grid and more reliable power into the grid.”