Beneficiaries of the Moran Petroleum Development Licence 5 (PDL5) in July received, their royalties totaling K1.2million for the period of January to December 2015.

As per the Oil and Gas Act, 40% of the amount is paid to landowners, 30% to the Community Investment Trust Fund (CITF) and the remaining 40% to Future Generation Trust Fund (FGTF).

Payment Summary:

  1. Community Investment Trust Fund- K610,238.15
  2. Future Generation Trust Fund – K610,238.15
  3. Landowners- K813,650.86

A total of K813, 650.86 (40%) of the landowners component was paid to 636 ILG accounts according to respective benefit sharing. Moran Huli clans received a total of K662, 311.80 (81.40%) while Moran Fasu Clan received a total of K81, 365.00 (10%). A total of K69, 973.97 (8.60%) is being held in trust for the Yumbi/Webo disputed portion of land.

MRDC’s External Affairs team travelled to Moro to facilitate the payments through the BSP Bank with the assistance of Branch Manager Mr Meck Kaum and Department of Petroleum and Energy officers.

Petroleum Resources Moran (PRM) Chairman Pape Punga arrived and jointly addressed the Moran Huli and Moran Fasu landowners outside the bank premises.

The seven-day exercise, saw minimal issues. One of the interview room in the bank was made available to address landowners who had problems with benefits sharing or account queries.

Chairman Punga was on hand during the seven days to address any pressing issues in regards to equity and other PRM matters. Director Paul Yawe also joined the team to handle Moran Fasu issues.

Overall, the payment exercise was a success with no major disorderly behaviour encountered.