Puma Energy is starting to show its colours in Papua New Guinea, with the rebranding of its first service station following the acquisition of InterOil’s downstream assets in PNG earlier this year. It’s part of a regional investment strategy, PNG General Manager Peter Diezmann tells Business Advantage PNG.
Puma Energy Corporation has laid out plans that it believes will ensure the company plays an important role in the future of Papua New Guinea’s petroleum industry.
Three months after acquiring InterOil Corporation’s downstream and refinery businesses, the company’s red and green has started to appear.
The first Puma-branded service station, located near Jackson’s International Airport in Port Moresby, reopened earlier this month and is the first of 42 stations the Singapore-based company plans to rebrand by the end of 2014.
Puma Energy PNG General Manager Peter Diezmann told Business Advantage PNG the company was anticipating growth in PNG and would identify opportunities as the country continued to realise its potential as a supplier of minerals and energy.
‘The region will, however, need to see increased investments in infrastructure to support this growth,’ Diezmann suggested.
‘Puma Energy will play an important role in PNG’s growth as a major provider of reliable and competitive fuel and lubricant solutions across the country.
‘We intend to invest in the region by upgrading and expanding our current network of fuel terminals, depots, aviation facilities and retail sites, which will support the expected economic growth in PNG.’
Puma Energy became the owner of the most extensive network of fuel terminals, aviation facilities and retail sites across PNG though the US$526 million deal with InterOil in July.
More than 750 employees have joined the company as a result of the deal, which involved service stations at major centres throughout the country and the Napa Napa refinery outside Port Moresby, the first refinery built in PNG.
Diezmann, previously InterOil’s General Manager—Downstream, said the acquisition of InterOil’s assets and the transition of their local employee base had been completed ‘very quickly’.
‘We feel there is a really positive attitude within the business and staff have shared great excitement about joining Puma Energy and being part of a global fuel company that wants to invest to take the business forward,’ Diezmann said.
He added that Puma Energy’s investment plans would focus on improving its refinery, fuel terminal, depot and retail operations, while providing ongoing employment opportunities through contractors and service providers.
Diezmann said Puma Energy’s ethos had been to work and partner with the communities in which it operates, as it had achieved in Africa, Central America, South East Asia and Australia.
One community initiative Puma Energy is currently developing in PNG is a graduate program which will take 15 local graduates from a variety of disciplines.
‘Each business is a long-term investment in the local community and economy, and this is why we continue to expand, develop and improve the businesses for the future,’ Diezmann explained.