theceomagazine.com | 151The CEO Magazine: So, what triggered your interest
in the industry
Wapu: It certainly started with my cousins working in
mining. That triggered my interest in the industry while
I was still in high school.
You studied at the Melbourne Business School. How
did that help prepare you for your career?
That was part of a development plan that was put in place
by Oil Search Ltd, whom I was working for at the time. It
was designed for me to develop management and leadership
skills, instead of just focusing on engineering.
PNG has recently begun transitioning from oil
to LNG production. What’s Kumul Petroleum’s
connection to the PNG LNG project?
Our oil exports started around 1990–91. The industry
grew from that. Several oil and gas companies such as
BP and Chevron were involved in that development.
Since 2009 or so, they’ve gone from oil production to
exporting LNG. That continues today; there is more
talk now around LNG Projects in the country than
we have had in many years.
What’s the state of oil and gas resources in PNG
compared with that of other countries?
PNG’s oil and gas resources are more conventional. There
are no non-conventional resources, like coal bed methane
gas or shale gas. The proven resource base is also there for
at least three more new LNG trains.
Does that mean PNG is a safe market for producers?
Yes. We have very light, sweet crude [low-density and
low-sulphurous crude, and therefore high-quality]. Even in
the gas, there aren’t any impurities. Given our geographical
location, being closer to the Asian market, PNG is fortunate
to be well-positioned to compete with other projects in the
Asia–Pacific region. We also have a very stable government,
a very stable fiscal system and very good track record for
delivering every product to the markets or the buyers.
This makes PNG enormously competitive when it comes
to oil and LNG production and supply to customers.What kind of presence does the company have in the
Asia–Pacific market?
In PNG itself, our mandate is to participate in upstream,
midstream, downstream; all spectrums of the oil and gas »“Total E&P PNG Limited is pleased to partner with Kumul Petroleum Holdings
Limited on the Papua LNG project. KPHL and Wapu Sonk have always been very
supportive of TEP PNG, and we hope to contribute to their continuing development
and success.” – Philippe Blanchard, Managing Director, Total E&P PNG LimitedInterview | INVEST