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Global E&P: National regulators meet with IOCs online

by PNG Business News - May 26, 2020

IN-VR is organising the Global E&P Summit on July 2nd, taking place completely online. For the first time ever, ​16 national oil & gas ministries, regulators and NOCs are gathering online to ​promote their available E&P global opportunities to IOCs and service providers from all over the world.

The biggest online E&P event of the year

Meet with hundreds of IOCs and service providers at the biggest online oil & gas event to ever take place. Book private meetings, network, and find the latest news on Licensing Rounds, discoveries, and tech updates.

Listen to presentations from ​Brazil, Namibia, Timor-Leste, Ghana, Morocco, Peru, Argentina, Benin and many more authorities on the same stage for the first time. The countries will discuss their success, challenges and new opportunities after COVID-19.

Promote your company to IOCs and service providers from all over the world looking to prospect and expand their business.

Who is presenting at the Global E&P Online Summit?

ANP, ​Brazil

Ministry of Energy, ​Ghana

Ministry of Mines and Energy, ​Namibia

Ministry of Petroleum and Mineral Resources, ​Somalia

Gabon Oil, ​Gabon

ONHYM, ​Morocco

Perupetro, ​Peru

ANPM, ​Timor-Leste

CUPET, ​Cuba

SOBEH, ​Benin

Ministry of Energy,​ Sao Tome and Principe

and many more​, soon to be announced!

Three stages, more than 60 topics

With hundreds of VIPs, officials from 16 countries, and 12 hours of non-stop streaming, you will have the option to choose the session you are most interested in watching and participate in it, before having private meetings. All three stages will be hosting sessions with different topics, discussions, Q&As and presentations on: onshore and offshore available acreage, upcoming Licensing Rounds in 2021, latest E&P technology advances, farm-in opportunities and many more.

For further information please visit:

https://www.in-vr.co/global-ep

Or contact: felix@in-vr.co



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PNG Business News - May 25, 2020

Timor-Leste’s official Oil & Gas event goes online

IN-VR is organising the ​Timor-Leste Oil & Gas Energy Online Summit, taking place completely online and sponsored by ​SundaGas and ​Pacific Towing​. ​All the profits will be donated to charity supporting their initiative to provide masks, gloves and necessities to groups in need. The online summit will take place on July 9th 2020, focusing on Timor-Leste's plans in the current oil price landscape, ​new business opportunities in its ​2nd Licensing Round​, exploration updates​ and ​new midstream projects​. The summit will gather government officials, key IOCs, investors and service providers that will discuss these topics and network with attendees online in sessions and private B2B meeting rooms. What are the key thematics of the online summit? ● Timor-Leste’s 2nd Licensing Round: Acreage opportunities and terms ● ANPM’s instrumental role and jurisdiction in the country and region ● Timor-Leste’s geology and available seismic data ● Why invest in Timor-Leste - Investor's perspective ● Service provider opportunities in Timor-Leste ● The Timor-Leste / Australia Maritime Boundary Treaty – the new framework ● What are the best companies to partner within Timor-Leste? ● Exploration updates in Timor-Leste ● The Chudith Gas Discovery and the PSC TL-SO-19016 license, SundaGas’ success and update ● Bayu-Undan field updates and new opportunities Who will be presenting? ● Dino da Silva, President, ​ANPM ● Mateus da Costa, Director of Exploration, ​ANPM ● Amado Hei, Director for PSC & Legal Compliance, ​ANPM ● Andy Butler, Chief Executive Officer, ​SundaGas ● Neil Papenfus, General Manager, ​Pacific Towing and many more, soon to be announced! Let's get masks, gloves and food to the right people while we network with Timor-Leste's oil & gas industry!For further information please visit: https://www.in-vr.co/timor-leste-online Or contact: felix@in-vr.co

Events

PNG Business News - December 02, 2019

Mining Petroleum Conference kicks off

The Papua New Guinea Mining and Petroleum Conference and Exhibition kicks off today for the next three days December 3-5 at the Stanley Hotel & Suites in Port Moresby in the nation’s capital.More than 1,000 participants are expected to attend the biennial conference and expo, to be held in conjunction with the main conference.Yesterday business houses participating in the exhibitions put finishing touches to their stalls for the start of conference today.Major players in the local and global resources industry are expected to visit despite their being a downturn in the PNG and even the global economy.Prime Minister James Marape is expected to officiate at the opening and address participants, many of them eager to hear what the Prime Minister has to say in regards to proposed changes to the Mining Act, which has raised concerns in the industry and calls for more collaboration and a relook at these proposed changes which may impact investment and mining operations.The conference provides comprehensive technical updates, and offers an excellent opportunity to meet all the players in the PNG mining and petroleum industry, including Government, and for joint venture discussions, networking and promotions. The event also informs delegates on current activities in the PNG resource industry and highlights new developments, advanced prospects, new discoveries and exploration as well as economic and social achievements.The conference week follows on from the passing of the 2020 budget by the new government led by Prime Minister James Marape – his government’s first national budget, which he has described as a ‘hard one’ in view of the current economic climate.He said this yesterday when commenting on the Budget which was handed down by Treasurer Ian Ling-Stuckey last Thursday.As the conference starts, some of PNG’s big-ticket projects like Wafi-Golpu mine, Porgera mine, P’nyang and Papua LNG projects are still in discussion stage.

Events

PNG Business News - September 09, 2019

Innovation PNG 2019 Conference

An international-standard event bringing the best of new technology, creative solutions and innovative thinking to Papua New Guinea’s business community.FRIDAY 8 NOVEMBER, THE STANLEY HOTEL, PORT MORESBYHosted by the Port Moresby Chamber of Commerce and Business Advantage International, Innovation PNG 2019 will be the first event of its kind in Papua New Guinea. It will provide the opportunity for PNG’s wider business and government community to learn from, be inspired by, and engage with the most relevant innovators from PNG and overseas.The broad spectrum of topics will include developing an innovation culture in your business, how better internet connectivity will transform local business, digital banking and how local entrepreneurs are finding creative ways to solve uniquely PNG challenges.WHAT TO EXPECTThis Plenary Conference will run from 8:30am to 4.30pm. It will feature international keynote speakers and multiple streams for the afternoon session. The Expo Plus section will include company booths and technology-related services/attractions.The Workshops will provide hands-on training for smaller, special-interest groups.TOPICSInternational Keynote: Fostering an innovation culture in your organisation, Pete Williams, Deloitte Centre for The Edge. Pete is a recognised thought leader and practitioner in Innovation. Since speaking at the PNG Advantage  Investment Summit in Brisbane in 2015, he has developed a strong interest in PNG and is a regular visitor to the country.International Keynote: Global Megatrends Influencing Technology and Transformation, Paul Burman, Megatrends Ambassador, Hewlett Packard (HP). Artificial Intelligence is changing our world – from disrupting how we educate our children to the way we diagnose a patient. Working directly with the CTO’s Office in Palo Alto, Paul is tasked with presenting HP’s view of the future, Megatrends, to customers, partners and industry leaders – to help them prepare for the future.Keynotes by major global technology companiesOpportunity and disruption: what cheaper and better internet access will mean for PNGDigital banking and mobile moneyE-GovernmentEducation and vocational trainingMedical scienceAgribusinessInnovation PNG: short presentations from some of PNG’s leading innovators, including SMEs.WHO WILL ATTENDThe conference will appeal to the wider PNG business and government community, from senior managers and business owners, to middle managers and the brightest graduates.REGISTERPricing:Early-bird (until 4 October) — PGK 950 Standard — PGK 1,050 Table of 10 (until 25 October) — PGK 8,500Prices include GSTFor more information contact:Port Moresby Chamber of Commerce+675 7200 0000frontdesk@pomcci.com

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PNG Business News - April 08, 2021

Price of Oil Recovers in Spite of COVID

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PNG Business News - April 08, 2021

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PNG Business News - April 08, 2021

Businesses Concerned Regarding Government Debts

With the outstanding amount of government debt owed to the sector, pending landowner fees, and rising law and order woes, businesses are concerned about 2022. According to Chey Scovell, chief executive officer of the PNG Manufacturers Board, conversations within the business community revealed that the government owed companies more than K2 billion. “I don’t have an updated list, but from general conversations with business and what is being raised with the various chambers, it would exceed K2 billion,” he said. “We hear that contractors for the Department of Works have claims for this amount alone, so the number could be as high as K3 billion. No doubt they may have paid some, technically a K1 payment would be paying at least some. The Budget hasn’t been able to be implemented properly at all. Recurrent expenditure, monthly bills for things like water, power, security, rent, are not being paid in full or in many cases at all. We’ve suggested that the Government put up an online portal/list, for all creditors to register for the Government to show full or progressive payments.” Scovell compared what the government was doing to the private community to what would happen if everybody started paying taxes for one to five years but continued to use government programs. “They wouldn’t be able to survive, so how is it that they expect businesses to carry on?” he said. “It is also a bit of a cop-out that Treasury is taking a long time and in many instances taking extensive reviews of claims to see if they will pay them and by how much.” Scovell argued that the government was required to behave in good faith and to set a precedent, but that forcing or intimidating companies to make substantial reductions in compensation due for goods and services rendered was bad form. “We note there are many dodgy claims, but there seems to be little evidence that hires car firms, public works contractors and catering firms (reported as problematic areas) are having the same scrutiny,” he said. “BOC Gas waited years to be paid for medical gases such as oxygen supplied to PMGH (Port Moresby General Hospital), it was reviewed twice that I know of and not paid. The other item of note is that debt carried is a growing debt. The older it gets the more it has cost the businesses.” He added, “Also, our currency has been depreciating, many businesses based their fees on the foreign exchange rates at that time, some even had loans Just like our tax penalties, the longer they are overdue, the higher they should become. This Government isn’t doing to others as it does for itself. We still have micro, small and medium enterprises that have suffered duress due to non-payment of bills going all the way back to our 40th Independence, same goes for the 2015 Pacific Games, we hear from the regional chambers that there are many outstanding claims for the past two elections. Again, if we had a publicly available list, the Government wouldn’t be able to hide behind confusion and people could whistleblow on dubious claims.”

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