Published On: Tue, Oct 28th, 2014

Petroleum and Gas Company established

komapaniaWILLEMSTAD – The Prime Minister of Curaçao, Ivar Asjes has signed the notary act of the government company Kompania di Petroli i Gas di Korsou (KPG), which is the Petroleum and Gas Company of Curaçao. This official act was done in the presence of the Notary Simon at Fort Amsterdam on October 28.

The new government company KPG has the sole right to do research on the presence of gas and oil in the territorial waters of the island. The legislation for this sector should be arranged and then be presented to parliament for approval.

KPG will prepare a public tender to attract companies specialized in the research of the presence of oil and gas. These companies can also offer a proposal for the exploitation of these natural resources.

According to the Prime Minister, the signing of this notary act shows that his government succeeds in putting these project proposals in motion. “After decades of arguing and going back and forth and discussing if it is possible to establish a public company like this, we have finally done it,” Asjes said during the official act.

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