Kumul Petroleum Holdings Limited (formerly NPCP Holdings Limited) is a company incorporated under the laws of Papua New Guinea with all of its issued shares beneficially owned by the Independent State of Papua New Guinea through Kumul Consolidated Holdings (KCH) (formerly, Independent Public Business Corporation of PNG) Kumul Petroleum Holdings Limited.
Kumul Petroleum Holdings Limited through its wholly owned subsidiary Kumul Petroleum (Kroton) Limited holds the State’s equity interest in the PNG LNG Project.
KCH was given the mandate by the National Executive Council in October 2008 to be the State’s nominee with respect to the State’s equity interest in the PNG LNG Project. KCH established Kroton No. 2 Ltd as a special purpose vehicle through which the State’s participation was effected. The Kroton No.2 Limited name was changed in November 2010 to National Petroleum Company of PNG (Kroton) Limited. In December 2014, all the issued shares in National Petroleum Company of PNG (Kroton) Limited were transferred to Kumul Petroleum Holdings Limited. In September 2015, the National Petroleum Company of PNG (Kroton) Limited name was changed to Kumul Petroleum (PNG LNG) Limited and subsequently changed in January 2016 to Kumul Petroleum (Kroton) Limited. Kumul Petroleum holds a 16.8 percent participating equity interest in the PNG LNG Project, making Kumul Petroleum the third largest participant in the Project.