Oil Search commits K185 million (US$56 million) to Oil Search Foundation
1 August 2016,
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PRESS RELEASE

August 1, 2016

Oil Search is proud to announce a grant to the Oil Search Foundation of K185 million (US$56 million) over five years, from 2016 to 2020. The grant will fund the Foundation’s core operational costs and signature programmes that deliver sustainable development outcomes in Papua New Guinea, specifically within the areas of Health, Leadership and Education, and Women’s Protection and Empowerment.

Established in 2011 and principally supported by Oil Search, the Oil Search Foundation is focused on building the capacity of partners to deliver services that are most beneficial to communities and are in line with the Government’s national priorities. The Oil Search Foundation works in partnership with Government, communities and both public and private organisations to help PNG achieve its own development goals.

Between 2011 and 2015, Oil Search invested more than K90 million (US$28 million) to assist the Foundation’s delivery of a range of community health programmes, with successful development outcomes achieved in the areas of HIV, reproductive health, child immunisations and malaria control.

In 2015, the Oil Search Board endorsed a new five year strategy and two new development streams – Leadership and Education, and Women’s Protection and Empowerment – to run alongside the Foundation’s Health Programmes.

“As PNG’s largest company, Oil Search believes conducting business in a socially responsible manner is a strategic and moral imperative,” said Peter Botten, Oil Search’s Managing Director. “The Foundation represents a key component to Oil Search’s commitment to the sustainable development of PNG.

“By playing a vital role in the economic and social development of PNG, Oil Search has formed strong relationships with communities and government, which are an essential element for successful oil and gas operations. Our sustainable development programmes help to maintain a stable operating environment, while improving development outcomes for the people of PNG,” said Botten.

Over the previous 12 months, the Foundation has progressed many of its signature programmes, which includes:

  • Supporting the delivery of hospital services for the people of Hela.
  • Providing direct support to survivors of family violence in Tari.
  • Establishing a formal partnership with Buk bilong Pikinini to deliver Early Childhood Development and Literacy programmes in Hela and Gulf Provinces.
  • Addressing the tuberculosis emergency in Gulf Province.
  • Ensuring children of HIV positive mothers have the opportunity to be born free of the disease and can lead healthy happy lives.

Kymberley Kepore, CEO of the Oil Search Foundation, said that since its launch, the Foundation has made a significant contribution to the communities of PNG.

“Oil Search’s continued financial commitment confirms the importance of the Foundation’s work to the sustainable development of PNG, and it highlights the success of our programmes in changing and improving the lives of Papua New Guineans,” said Kepore.

The grant of K185 million will be paid in regular disbursements and is subject to annual review by Oil Search’s Board.

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