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?
Ministry of Energy, Ghana
Ministry of Mines and Energy, Namibia
Ministry of Petroleum and Mineral Resources, Somalia
Gabon Oil, Gabon
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:
Or contact: firstname.lastname@example.org
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.
PNG Business News - November 05, 2019
New ‘Coal in Asia’ segment to be launched at the 6th Mining Investment Asia Conference in Singapore
Mining Investment Asia (https://www.mininginvestmentasia.com/), South East Asia’s largest mining conference and exhibition showcasing South East Asia’s mining sector to an international audience of investors and various mining stakeholders, is scheduled to return to Singapore from 17 - 19 March 2020. For this 6th edition, a brand new full day segment entitled ‘Coal in Asia’ will be launched on 17 March to complement the event’s current focus on mining financing, technology and gender diversity. Why Coal in Asia? Coal is a dominant fuel in the rapidly growing economies of South East Asia even amidst a global move towards clean energy. Within the Asian region, India, China and Indonesia play major roles both as consumers and producers of coal. Hence, ‘Coal in Asia’ seeks to focus on what lies ahead for coal in the region and the key drivers for transformation. Major national and private coal mining companies are confirming their participation, with key stakeholders such as Indonesia Coal Mining Association (APBI-ICMA) already supporting this event. Latest speakers Speakers who have come onboard to be a part of Mining Investment Asia 2020 include: Robin Lee, CEO & Founder, Hello Gold (Malaysia) (First time speaker at this event) Raymond Liu, Founding Partner, Havelock Mining Investment (China) (First time speaker at this event) Thao Dh Ngo, Group Executive Chairman, First Indochina Group (Vietnam) Edward Gustely, Managing Director, Penida Capital (Indonesia) Michel Labrousse, Managing Partner, Mazarin Capital (Hong Kong)Hendra Sinadia, Executive Director, Indonesia Coal Mining Association (Indonesia) Cindy Teoh, Associate Editor - Investments, Golden Equator Capital (Singapore) Thomas Puppendahl, Chief Investment Officer, Chancery Asset Management (Singapore) Jayant Bhandari, Mining and Institutional Investor Expert, Anarcho Capital Inc (Canada) Over the past 5 years, the high quality of the speakers assembled at this event has provided insightful regional and international perspectives, leading to Mining Investment Asia being recognised as the leading event in the region for global companies and individuals who wish to understand what makes South East Asia mining industry tick and to meet the key players in this region. Testimonials from past participants Feedback from past attendees have consistently highlighted both the high quality of the speakers and the attendees. In addition, what makes Mining Investment Asia special to them include: Great networking opportunities High level discussions Opportunity to understand and meet the relevant decision makers from the South East Asia mining industry. Constance Tan, Principal Consultant, Alvito Capital Holding (Singapore) opined that ‘When I speak to other delegates here, they agree that it has been a useful forum for them to ask questions and meet like-minded people in the same industry over meals and networking drinks. Overall Mining Investment Asia is a formal yet informal event with plenty of interaction for future collaboration’. Charmaine Olea Capili, Executive Director, Philippine Nickel Mining Association said that ‘It is a big leap for us coming here as an Association as it is the first we are coming out here in South East Asia. We are very excited as it is an opportunity for us to share globally what we have done in our country and our best practices’ Dato Aminudin Hashim, CEO of Menteri Besar Inc, a government body tasked to drive growth in the Malaysian state of Perak, highlighted that ‘Mining Investment Asia is a great event. A good event depends not only on the content but the quality of the attendees. I got to meet many senior players in the industry, from the mining, policy and the financing industry. It is a great meeting of minds from the mining sector here in Singapore’. Spaces are still available for sponsors, exhibitors and delegates who wish to be a part of Mining Investment Asia. Enquiries can be sent to Jarred via email at email@example.com or phone at +65 6717 6017. More information can be found at the event website: https://www.mininginvestmentasia.com/ Background on Spire Events Spire Events is a Singapore based events company specialising in mining & energy conferences and expos. Mining Investment Asia is part of the global Mining Investment Conference Series that spans across various locations in Asia, Africa, Europe, Latin and North America and the Middle East. Spire Events also organises the MiningTech Conference Series which focuses on technology in mining and they are held in Chile, South Africa and Brazil. Besides conferences, Spire Events also organises large scale mining and energy expos in Africa, namely Mauritania, DRC, Sierra Leone and Botswana. The full calendar of events can be found at www.spire-events.com
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: firstname.lastname@example.org
PNG Business News - February 05, 2023
PNG Tourism Promotions Authority (TPA) and Bougainville TPA signs MOU
The Department of Commerce, Trade and Industry reached another milestone recently when it signed a Memorandum of Understanding (MoU) with the Papua New Guinea (PNG) Tourism and Promotions Authority (TPA). The MOU paves the way forward for both parties to continue bilateral partnership based on the understanding of tourism and promotions in Bougainville. The MOU was signed by the PNG TPA and the ABG Department of Commerce, Trade and Industry on the understanding relating to a joint partnership for the protection and preservation of tangible and intangible culture, development and promotion of tourism, contemporary culture and the arts and sustainable tourism in the autonomous region of Bougainville. ABG Vice President and Minister for Commerce Trade and Industry, Hon. Patrick Nisira (MHR) acknowledged the PNGTPA for its tremendous support so far since the first MoU was signed in 2016. The support has cemented many agreements already signed and has proven that Bougainville is truly a tourism destination that is worth investing time and money on. Mr. Nisira acknowledged the PNG TPA officers for their continuous negotiation with the Bougainville partners in pushing for significant income generating programmes to proceed in the region. “Standing here today it gives me great pleasure to witness and participate in this significant event that will go down in history books of this nation to be. We are here today to mark this important event on the signing of the MOU between my ministry and the department of national government and PNG Tourism Promotions Authority (PNG TPA).” This agreement adds value to our collective vision, ideas and consultations that the local tourism and cultural practitioners in both government and private sectors, he said. “As a way forward the agreement presents a realistic and workable approach to tourism development and its sustainability in the region.” “The MOU also sets out a framework for future development for tourism emphasizing on effective and determined and holistic approaches.” He said that the agreement generally outlines the pros and cons of tourism development in Bougainville and the framework and strategy of reaching the targeted goals and vision earmarked to reaching the overarching goals of economic building and development. Deputy Chief Secretary for Operations Anthony Koiri approved and signed the MOU on behalf of the Bougainville Public Service Chief Secretary who is on sick leave at the moment. The signing was witnessed by the staff of the PNG Tourism Promotions Authority (PNGTPA), Department of Commerce, Trade and Industry, senior officers and a small crowd at the Bel Isi park.
PNG Business News - February 05, 2023
PNGEITI POSITION ON PORGERA MINE LEGACY TAX ISSUES
The PNGEITI Head of Secretariat Mr. Lucas Alkan says all parties to the Pogera Mine must adhere to rules governing the extractive industry, particularly when dealing with fiscal matters that must be administered and observed according to law. His comments follow a news article on The National citing the Internal Revenue Commission (IRC) that unmet tax obligations of the Pogera mine stood in the way to expedite the mine re-opening process. Mr. Alkan says a workable and timely strategy that does not impinge on basic laws is a way forward. Below is the full comment on this issue. “The Papua New Guinea Extractive Industries Transparency Initiative (PNGEITI) commends The National newspaper for attempting to bring to light what appears to be the final outstanding issue (among others) in the Porgera Mine recommencement negotiations (more on this in footnote). We’ve noted from the reporting that taxation matters are legacy issues that appear to be standing in the way for the multi-million-kina Porgera Gold Mine to re-open. We have observed that the Government was on track to conclude negotiations and re-open the Mine by June last year, however this did not eventuate as anticipated. Attempts to reopening the Mine in the second half of last year was not feasible due to the national general elections and the formation of government. It appeared that all negotiations were concluded and a new Porgera Mining Agreement Framework was in place for the Mine to be re-opened in the first quarter of this year. Surprisingly, we learn that an old Porgera Tax liability dispute is standing in the way for the Mine to be re-opened. The early recommencement of the Mine, preferably within the first quarter of this year is critical for the country as the lead time required for mobilizing resources and the significant start-up capital needed to get the mine back into its full operating capacity would be a significant challenge. On this, we are aware there are also discussions going on with the developer and the government as to who is going to meet the startup cost but we understand Barrick Niugini Limited might meet the full cost of starting up the Mine and government would refund later but unsure as to whether this understanding has been reached or not yet. With regards to the current standoff, the EITI based on its global best practice principles is of the view that the existing law governing taxation matters must dictate or take precedence over any political intervention. We do not know the specifics of the on-going tax matter but understand that it is related to a tax dispute concerning the ‘old Porgera Mine’. If it is a significant amount of tax owed by Barrick to the Government based IRC’s audit in 2013 then it is a legal tax obligation that Barrick and its joint venture partners need to settle as required by law. We fail to understand as to why the old Porgera tax obligation/liability clause was inserted into the new Porgera Mining Framework Agreement making it a condition to resolve this legacy tax issue before reopening the Mine. If whatever was reported and commented by PM Marape recently is true then Barrick Niugini Limited and the State need to speed up the negotiation process and resolve this dispute immediately. Both parties should exercise good faith – Barrick Niugini Limited should not pull strings on this old Porgera tax liability matter and delay the re-opening of the Mine. It is understood the State (IRC) may not easily forego if there is a substantial amount of tax liability to be paid by the operator. Whatever the parties decide to do, they should resolve the tax liability issue through the due process of law but allow the Mine to re-open immediately under the New Porgera Framework Agreement. Political intervention is not recommended to resolve this dispute as this can undermine investor confidence, set bad precedence for the Government and create an uneven playing field for project developers. Barrack Niugini Limited should not put undue pressure on the State to resolve this matter politically in order to re-open the mine as it is not a best business practice. All stakeholders and the citizens have the right to know the specific issues or the nature of this tax liability issue between Barrick Niugini Limited (BNL) and the Internal Revenue Commission (IRC) as the continued delay in re-opening the Mine continues to have negative consequences on the economy. The prolonged delay has not only resulted in significant revenue loss to the Government (including the provincial and local level governments in the impacted resource area) but also loss of employment, business opportunities and spin-off benefits to the landowners and the wider communities. The shutting down of the Mine 3 years ago has had significant negative consequences on the economy including the current foreign exchange shortage that has constrained business operations in the other sectors of the economy. Porgera Mine had been a good source of foreign exchange inflows and its continued shutdown will definitely not going to contribute to the 4% economic growth (that was largely to be driven by the extractive sector) projected for by the World Bank for last year and the real GDP growth of 4% projected for this year in the 2023 National Budget. PNGEITI commends the transparent negotiation process to date that took substantial amount of time and effort to ensure the interests of all parties were reflected in those agreements. We encourage all parties to continue to respect and observe the laws of the land in this dispute resolution process to address the tax liability issue. We believe that a win-win situation for both parties (Government and Barrick) is to re-open the mine first and work together to resolve the outstanding tax liability dispute later going forward.
PNG Business News - February 02, 2023
Weir Minerals releases the 6th edition of the Warman® Slurry Pumping Handbook, the definitive resource for slurry pumps
Photo: The Warman Slurry Pumping Handbook is the definitive guide for most slurry pumping applications. Weir Minerals, manufacturer of the industry-leading Warman® slurry pump, has released the latest edition of their coveted Warman® Slurry Pumping Handbook. The 6th edition, compiled by the most trusted name in slurry pumps, features detailed engineering data required for most slurry pumping applications. Drawing on decades of Weir Minerals’ inhouse expertise in innovative engineering and slurry pumping technology, the new handbook has updated reference material based on new learnings, improved understanding and technological developments within the mining industry. With customers always in mind, the handbook aims to empower engineers to achieve optimal performance from their Warman® slurry pumps. An increased global focus on the environment, energy consumption and water conservation will influence slurry pump design and considerations – making this latest handbook an essential tool for all current and future pump engineers. “Pumping slurry has many challenges and I’m excited to publish our latest handbook, packed with fundamental theory, application advice, standard practices and latest Warman learnings from the field; all aimed to help our customers, present and future, deliver with excellence.” Marcus Lane, Director, Slurry Pumping Technology Group Weir Minerals are continually striving to shape the next generation of smart, efficient and sustainable solutions with cutting-edge science and innovation. The comprehensive handbook includes over 140 pages of detailed information, including performance charts, impeller design, part configuration, assembly and slurry considerations – fully supported by accurate technical renders and specifications. “The high quality of the reference material in this essential resource reflects the leading status of the Warman slurry pumps. As the industry leader, we have a responsibility to develop our future engineers; we will make the latest version of the Warman Slurry Pumping Handbook available not only to our customers, but also to the leading schools worldwide, so they can learn from the best in the industry.” John McNulty, Vice President Global Engineering & Technology. As part of Weir Minerals’ commitment to investing in STEM education and developing the next generation of engineers, copies of this essential resource will be gifted to the leading mining and engineering educational facilities around the world, including the winner of the 2022 Warman Design & Build competition, Deakin University in Australia.