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MR: Memorandum of Understanding between INPEX and Larrakia Development Corporation
Wednesday, 4 November '09
Tokyo signing for Larrakia and INPEX agreement on job, economic opportunities
The Chairman of Darwin's Larrakia Development Corporation, Koolpinyah Barnes, and the President of the oil and gas giant, INPEX, Naoki Kuroda, have signed an historic Memorandum of Understanding between the two organizations in Tokyo.
"We are very pleased we have established a strong working relationship with the Larrakia," Mr Kuroda said.
"This MOU with the Larrakia Development Corporation formalizes this most important relationship and sets out the objectives of how we will go forward together.
"INPEX recognises the Larrakia people as the traditional owners of the Darwin region, and is working with them to secure a sustainable economic future for all Larrakia."
Speaking at the signing ceremony, which was witnessed by the Chief Minister, Paul Henderson, Mr Barnes said the Larrakia sought to partner with INPEX in building a relationship that will create a lasting, binding friendship over the 40-year life of the Ichthys Gas Field Development Project Joint Venture.
Mr Barnes then told the ceremony participants how the LDC's pro-business ethic translates into employment and business opportunities, as well as cost-of-living benefits for all Larrakia families.
"The LDC's prime objective is to provide economic benefits to all Larrakia people, not through a hand-out system of welfare, but by the creation of enterprises to employ, train and involve the Larrakia, and operate as commercial entities with a view to making a profit," he said.
"That profit is then re-invested to grow the business and provide the means to help all Larrakia through our distributions policy," Mr Barnes said.
"The distribution fund has paid out nearly $500,000 so far for education, first home owners' grants, start-up money for new business ventures, funeral and headstone costs and helping families with living expenses."
CONTACT: CEO Greg Constantine can arrange interviews on TN 8947 34 55
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