THE Government has secured a $US239 million (K579m) loan from the Asian Development Bank to improve roads in the Highlands region and air services in the country.
Treasury Minister Don Polye and ADB country sirector Marcelo Minc signed the agreements yesterday in Port Moresby. The second tranche of the Highlands Roads Improvement Programme will cost US$109 million. It will be carried out by the Works Department. The Civil Aviation Development Investment Programme (CADIP) costing US$130 million will be undertaken by the National Airports Corporation. “The road programme approved in 2008 is a US$750 million plan that aims to make transport more safe and accessible by connecting rural roads to main roads and making provision for public transport,” Minc said. “Under the first tranche, 115km of roads are being rehabilitated between Laiagam-Porgera (65km) and Mendi-Kandep (50km) using four locally-owned construction firms employing more than 500 nationals and providing improved market access and income earning opportunities for the people of Enga and Southern Highlands.” He said the US$130 million loan was for 21 national airports that served more than three million people annually. He said the programme would strengthen the safety, accessibility and reliability of air services. It is expected to open new economic opportunities in regional centres. “To date, the CADIP has upgraded airport facilities at Port Moresby’s Jackson Airport,” Minc said. “It includes expanding the domestic parking apron, installing an updated instrument landing system and procuring three new fire safety trucks. “The pavement at Hoskins Airport (West New Britain) will be upgraded and terminal facilities at Mt Hagen Airport (Western Highlands) would also be improved.” Minc said CADIP had improved safety and security in five regional airports by installing fences which were identified as requiring emergency works. They include Hoskins, Wewak (East Sepik), Kavieng (New Ireland), Gurney (Milne Bay) and Goroka (Eastern Highlands) to comply with International Civil Aviation Organisation safety and security standards. Polye said the Government would provide counterpart funding of K217.17 million. “The provision of transport infrastructure in PNG has been hindered by our rugged geographic conditions and extreme climate and that makes its supply and operation costly for businesses and our people,” Polye said. “The projects will not only support the development of a safer national civil aviation network but would make road transport safer and accessible in the Highlands.” Mr Palmer, whose close connection with Mr Duma goes back at least to 2008, said: "It’s all happening in PNG. This is the Promised Land, and with a stable government, and support from the community, it can do anything."
He obtained from PNG’s Petroleum and Energy Department, with strong support from Mr Duma, gas exploration tenements in- and off- shore from the Gulf province to the northwest of Port Moresby. A resources expert in PNG said such tenements were allocated without cost, but on the condition a set amount of work was conducted during a certain period, or else their control was resumed by the government. Mr Palmer, who did not respond to calls yesterday, said last August that he had already spent more than $A50 million exploring his PNG leases, and that one gas field there, 12km off the coast, could be worth more than $US35 billion, rivalling Australia’s North West Shelf, with its value many times that once in production. He said the deposit had the potential to power a city the size of Brisbane for at least 100 years. "It won’t make much difference to my life, but it should be good for the people of PNG," he said. Mr Duma has stayed with Mr Palmer when visiting Brisbane. Their relationship has become politically controversial in PNG. It is understood that Mr Duban, who was formerly police minister, has been asked by Mr O’Neill to review oil and gas exploration leases, with a view to ensuring that development is promoted as rapidly as possible. Mr Palmer’s leases, held through Palmer Petroleum and Chinampa Exploration, of which he owns 50 per cent, are among those that will come up for assessment. Mr Duban will take charge of PNG’s official role in the commissioning later this year of the $US19bn ExxonMobil-led PNG liquefied natural gas project, and in the development of the Elk Antelope field in Gulf province, 61 per cent of which was recently bought by French oil giant Total from PNG-based Interoil. Post Courier / PNG Facts THE long-term downward trend in PNG’s oil production will be reversed this year as a result of output from PNG liquefied natural gas (LNG) project, Oil Search managing director Peter Botten (pictured) said.
In the December quarterly report of PNG Chamber of Mines and Petroleum Newsletter., Botten stresssed that due to LNG project and strong operating performance from current oilfields, projected oil production this year has been raised from previous estimate of 10 million to 13 million barrels of oil equivalent to 12-15 million barrel of oil equivalent (boe). This contrasted with a more conservative PNG Treasury projection of total oil and condensate export of 8.2 million barrels this year, rising to 15.6 million barrels next year. He said in Oil Search share of oil production and gas-to-electricity at Hides last year amounted to 6.74 million boe compared with a current forecast of 6.3-6.8 million boe this year, with an additional 1.3-1.8 million boe of condensate coming from the LNG project. Botten said gas from Kutubu had been introduced to Hides gas conditioning plant (HGCP) following the start of commissioning activities at LNG plant in the third quarter of last year. Other milestones reached by LNG project include:
Meanwhile, the petroleum development licence application for Mananda 5 and 6 has been submitted to the Petroleum Department with hopes that the current Manada 7 drill hole would be incorporated into licence if it was successful. TELIKOM PNG Ltd has reduced its fixed line service rates to as low as one toea per minute.
The new rates are for postpaid and prepaid services with 60 toea flat rate charged for connections of every call made. These calls cover two categories – calls within a province and calls between provinces. Divisional manager, marketing and business development Xavier Victor said the new rates applied for every minute. He said the benefits that fixed line users would experience from the new rates include:
Meanwhile, Telikom said the new rates for its fixed lines to other mobile networks:
BSP Visa Cardholders can now be rest assured that there is an even stronger level of security when they perform transactions worldwide with the introduction of a new alert service.
BSP announced that the new service known as BSP Visa Alerts will see registered BSP Visa Cardholders receive alerts via SMS, email or both for certain transactions performed. Alerts will be triggered when customers use their cards to purchase goods or services over a certain amount either via ATMs, EFTPoS or transacting via the Internet, mail or telephone either in PNG or overseas. An alert will also be issued if a transaction is declined. As the transactions have to go through VisaNet, Visa's information processing network, to enable an Alert to be triggered, all transactions would have to be performed at non BSP devices (ATMs, EFTPoS and Internet Payment Gateways). Alerts will not be triggered for transactions performed at BSP devices. BSP Group Chief Operating Officer Robert Loggia when announcing the introduction of this new service said "BSP is committed to provide our Visa Cardholders with the best security measures and we are delighted that our partnership with Visa has enabled this, allowing our Cardholders to perform their transaction(s) with even more confidence". "BSP Visa Card holders can now keep track of transactions that are made either with or without their authorisation or knowledge. Cardholders will receive an Alert within minutes of a transaction being performed and if it is fraudulent they can act quickly to resolve the situation and cancel their card," he said. "This new service adds value to our customers, and it reinforces our commitment to make banking convenient and secure, anytime and anywhere," Mr Loggia added. Caroline Ada, Country Manager for Visa in New Zealand and South Pacific, said "Security is one of our highest priorities and we are delighted to partner with Bank of South Pacific to deliver even greater confidence to Visa cardholders." For more information and registration for the service BSP Visa Cardholders are requested to visit BSP's website www.bsp.com.pg Papua New Guinean's are being urged to be wary of the growing number of false money-making schemes in the country.
Prime Minister Peter O'Neill has warned people not to take part in such tricks. Mr. O'Neil says one such group who claim to be war victims or ex-servicemen are asking people to invest money with them, and get paid more in return when they get paid by the government. Peter O'Neill says the government does not have any money for such schemes. He was responding to concerns raised by Member for Nuku Joe Sungi during question time in parliament today. The Papua New Guinea Sustainable Development Program Limited, has presented a compromise Deed of Settlement to Prime Minister Peter O'Neil.
Among issues raised, is for P-N-G-S-D-P to withdraw legal actions against the State, once this Deed is carried out. Chairman, Sir Mekere Morauta says, the compromise solution to the dispute between it and the National Government, was offered to the Prime Minister's Eminent Persons' Group, on a 'without prejudice basis', on February 5 this year. Sir Mekere says, this proposal aims to particularly protect the Long Term Fund and ensuring a guaranteed level of social and economic development now and into the future for the people of Western province, after the Ok Tedi Mine's closure. The compromise deals with several aspects of the dispute, including, modest compensation to P-N-G-S-D-P for the expropriation of shares, legislation to repeal parts of the Government's 10th Supplemental Agreement Act passed last year, guarantees of protect to P-N-G--S-D-P, its board and management. Also, an amended definition of the mine closure for the company to immediately resume development funding for Western province, once the Government secures agreement with BHP Billiton. In addition, P-N-G-S-D-P to drop legal actions against the State, once it executes the Deed and generous payment terms allowing the State to pay compensation over an extended period. Sir Mekere states, the dispute was not of P-N-G-S-D-P's making, but the company will gladly resolve it in the true spirit of compromise and the interest of Western province people, whom he says have suffered enough. THE government well sell its 50% stake in Air Niugini to the private sector to raise K500 million for two more Boeing 787 Dreamliners, Prime Minister Peter O’Neill said.
The Boeing 787 Dreamliner is a long-range, mid-size wide-body, twin-engine jet airliner developed by Boeing Commercial Airplanes. Seating 210 to 330 passengers, it costs about US$100 (K260.58 million) million each. Last year, Air Niugini chief executive Simon Foo announced the company would take delivery of these aircraft in 2017 and 2018. O’Neill said the government was reforming all state-owned enterprises (SOE) starting with the national flag carrier due to the demand for its services. He said: “Our government is now trying to reform many state-owned enterprises and will go into the public-private partnership arrangements where we (government) plan to place state enterprises on stock market. “First is Air Niugini, why? Because we are trying to buy two Dreamliners (Boeing 767) that the Air Niugini board has already put deposit on. “The number of travellers on Air Niugini increased to two million last year, for a country of seven million people, that is a significant number, so we need to invest in Air Niugini to handle that capacity. O’Neill stressed that the government needs to make it (Air Niugini) bigger and better. He said the government has no money to buy those two Dreamliners, which would cost K500 million. O’Neill said: “To raise that money, we have to go to stock market to raise it from the private sector and mums and dads, who are interested to invest in the national airline. “The success of BSP shows the appetite private sectors have in SOEs. “We (government) are also looking at other 2-3 state enterprises -- Telikom and PNG Power -- we will slowly introduce them to the private sector. “We want to be transparent and fair; it’s not going to be any sweet heart deal.” PNG Facts/ The national FRANCE gas and oil company Total SA is committed to developing the Elk and Antelope gas fields in Gulf after several meetings with InterOil, Australia and Papua New Guinea vice-president and country adviser Marc Geniteau said.
He said this on Tuesday when the company’s technical team arrived in the country for a two- day visit to the gas fields. Total signed rights with InterOil in December last year to own a 61.3% stake in petroleum exploration licence 15, which contains the Elk-Antelope gas fields. InterOil’s drilling project manager Tim Green said the trip is to ensure both companies understood various aspects of their joint venture in the development of gas resources. He said the visit aimed to open up cooperation between Total and InterOil. “Whilst InterOil has lots in country experience in exploration, drilling, seismic and logistics, Total will bring to the table broad range of skills to help both teams.” Green said “End result is a top class team, well-positioned to appraise and develop the Elk/ Antelope wealth.” |
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