CLANS in the Hides Petroleum Development Licence 1 (PDL 1) area of Hela Province are preparing for the opening of sub-clan bank accounts, a key final step before the distribution of long-awaited royalty and equity benefits.
To support this process, an awareness program will be conducted to educate landowners on the requirements and procedures for opening sub-clan bank accounts. Facilitated by the Mineral Resources Development Company (MRDC), the week-long program will run from 29 October to 4 November and will be led by directors of Gas Resources Gigira, the corporate trustee representing PDL 1 landowners.
MRDC Managing Director Augustine Mano, accompanied by members of the executive management team and PDL 1 Directors, arrived in Hela this week to officially launch the awareness initiative.
Mr Mano said he was pleased that the process had reached its final stage before the release of royalty and equity benefits that had been held since 2014.
“Various clan disputes and legal challenges have delayed the release of these benefits. I am pleased that we have managed to resolve most of these disputes, paving the way for us to complete this process.
“Our people deserve to enjoy the project benefits to which they are entitled. I welcome the cooperation of Hides community leaders and the directors of Gas Resources Gigira, as well as their commitment to ensuring that royalty and equity payments deliver tangible benefits to our communities and are used responsibly.”
Ninety-one of the 96 PDL 1 clans have confirmed their respective executives, and the minutes of their meetings have been endorsed by the major clans and the National Petroleum Authority (NPA).
Bank South Pacific (BSP) will facilitate the opening of sub-clan bank accounts at the MRDC Tari Office from 5 to 24 November.
During their visit, Mr Mano and the directors also inspected several MRDC investments and development projects across Hela Province, including education infrastructure initiatives, the Hela Heritage Hotel and other community development projects.