Petroleum Resources Kutubu Limited (PRK) is a subsidiary of Mineral Resources Development Company (MRDC). It was incorporated in 1989 under the Companies Act to hold the landowners and provincial government equity interest in the Kutubu Petroleum Project and currently manages 6.75% equity in the Project on behalf of the beneficiaries in Petroleum Development Licence 2 (PDL2) area.

The beneficiaries of PRK are; Southern Highlands Provincial Government (1.575%), the Gulf Provincial Government (1.125%), Southern Highlands landowners (Fasu 1.553%) and Foe (0.696%)) and the Kikori pipeline area landowners (1.8%).

At PRK our vision is to enhance returns on our investments and improve the quality of life for our beneficiaries. Our mission is to ensure these returns are managed in a manner that delivers sustainable social and economic development for present and future generations.

I am pleased to say that the official opening the new BSP Bank and Post Office in Kikori in a partnership between PRK, MRDC, Bank South and Post PNG is evidence that PRK is carrying out this mission.

The issues which supported PRK’s decision for the construction of these important facilities was to provide banking and postal services to the community of Kikori and surrounding districts.

This I hope will encourage a culture of saving by our beneficiaries, encourage people to start up small businesses by taking out a loan from the bank and reduce and eliminate the risk of handling large amounts of cash when paying benefits to our beneficiaries.

PRK will continue to invest and implement development projects for our beneficiaries and it is my hope that the people of Kikori fully utilise the banking and postal services now available to them.

John Kapi-Nato

Chairman PRK Board