Sunday, March 06, 2011

A dream comes true for Petromin

Petromin board chairman Brown Bai (right) with (from left) fellow board member Sumasy Singin, managing director Joshua Kalinoe, Prime Minister Sir Michael Somare and Mining Minister John Pundari.-Picture by MALUM NALU
What began four years ago from the private residence of Petromin managing director, Joshua Kalinoe, has culminated with the opening of the magnificent K31.9 million Petromin Haus at 2-Mile in Port Moresby last Friday by Prime Minister Sir Michael Somare.
From Kalinoe’s residence, Petromin moved on to the Government Printing Office, and then Pacific View Apartments before staff began moving into Petromin Haus on Jan 3 this year.
Petromin board chairman, Brown Bai, said the opening of the company’s new head office building was an excellent testimony of the will for Papua New Guinea to prosper through more direct and active investment in the development of minerals and petroleum resources.
“As the saying goes, ‘where there is a will, there is a way’,” he said.
“And Petromin plays a pivotal role in paving the way for the nation’s will to prosper from the revenue generated through our mineral and hydrocarbon resources.
“This process began with the creation of the Petromin Act and establishment of Petromin PNG Holdings Ltd and now it has its very own head office building.
“I am really proud of our hardworking management team and staff serving tirelessly in their new office to deliver on Petromin’s mandate to advance the state’s interests as enacted by parliament.
“Now the company, with its new home here, can confidently move forward from strength to strength in the performance of its mandate to help propel the nation’s will to prosperity.
“I have no doubt in my mind that this modern office facility shall shine as symbol of prosperity for PNG, through direct participation by Papua New Guineans in the mineral and hydrocarbon sectors.
“This will be the engine room for generating revenue flows from oil, gas and minerals developments that will be invested in nation-building efforts that bring more benefits to our people.”
The building was pre-fabricated in Indonesia to Petromin specifications, and delivered, with all furniture and fittings, in containers.
This includes the cost of land, design, materials, fittings, furniture, and security features.
The building is one of PNG’s first green buildings, and has many energy-saving features, including climate control, insulated roofing, and reflective glass panelling.
It is designed to save energy.
The building was designed to company specifications by a Jakarta-based firm, and was constructed over a period of 10 months.
It is earthquake-proof, and the structure is coated in a fireproof material that ensures that despite fire damage, the structure will remain intact.
All divisions and subsidiaries of the company are located within the building, except for the Tolokuma gold mine administration, which is still based at Waigani.
Petromin PNG Holdings Ltd is an independent company created by the state of PNG to hold the state's assets and to maximise indigenous ownership and revenue gains in the mineral and petroleum sectors.
It is empowered as the vehicle to better leverage the state's equity holdings and encourage more production and downstream processing of oil, gas and minerals in PNG through proactive investment strategies either wholly or in partnership with resource developers.

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