Nautilus Minerals seafloor production vessel launched

by GlobeNewswire, nasdaq.com

TORONTO, March 29, 2018 (GLOBE NEWSWIRE) -- Nautilus Minerals Inc announces that its production support vessel was today launched at the Mawei shipyard in China.

 The vessel will be used by Nautilus and its partner, Eda Kopa (Solwara) Ltd at the Solwara 1 Project site, in the Bismarck Sea of Papua New Guinea.
Mike Johnston, Nautilus' CEO commented at the launch, "Today's launch is a significant milestone for the Company and the deep water seafloor mining industry.
"Mawei Yard has designed and built the world's first deep sea mining production support vessel, in cooperation with Nautilus and Marine Assets Corporation.

" This has involved much discussion, thought and innovation, to produce this magnificent vessel.
"The yard's efforts have been truly amazing, and I would like to thank the management and team at Mawei Shipbuilding for the terrific work that has been done to get the vessel to this stage of completion.

"We believe that mining the seafloor for much needed minerals will be a more cost effective and environmentally friendly source of obtaining high grade copper, gold and silver*.
"Nautilus further differentiates itself from others by having a 'first-mover advantage' which is protected by intellectual property and 20 patents.
"Once our new vessel is delivered, and subject to final funding, mining operations at 1600m water depth is anticipated to commence in late 2019."

*Nautilus Minerals seafloor production vessel launched Please refer to the NI 43-101 technical report dated February 27, 2018 titled "PEA of the Solwara 1 Project, Bismarck Sea, PNG" prepared by AMC Consultants Pty Ltd (AMC) (the "PEA Technical Report"), available at www.sedar.com and the Company's website: http://www.nautilusminerals.com/irm/content/technical-reports.aspx?RID=306

About the vessel

The production support vessel (PSV), which the company will lease from the owner thereof, provides a stable platform for operations using world-class dynamic positioning technologies to ensure it stays on location at Solwara 1 irrespective of wind and wave conditions.
The PSV has been designed for use in offshore construction and seafloor mining industries.

Papua New Guinea Cardinal speaks on climate change at college

by ARMANDO MACHADO, cny.org
March 28, 2018

Cardinal John Ribat of Papua New Guinea delivered an urgent message on “Climate Change, Sustainability and the Common Good” at the College of Mount St. Vincent in the Riverdale section of the Bronx.
“Before it was a theory; now it is not a theory. It is a reality before us,” Cardinal Ribat said in his lecture.
 “Mother Earth is crying, and we have to do something. The whole of humanity, we all have a responsibility…We cannot fail to consider the effects on people’s lives.”
His talk reflected on Pope Francis’ 2015 environmental encyclical “Laudato Si (Praise Be to You),” calling on all people to care for God’s creation.
The cardinal’s presentation was held March 19 in the President’s Reception Room. About 65 people attended, including a freshman honors social entrepreneurship class, an environmental biology class and volunteers from several parishes.
While in New York, Cardinal Ribat also received a Loyola Medal from St. Ignatius Loyola parish in Manhattan, March 11 (CNY, March 15).
Papua New Guinea, in the southwestern Pacific, encompasses the eastern half of New Guinea and its offshore islands.
 It is among the nations considered most at risk from the effects of climate change. Organisers said Cardinal Ribat has worked diligently to share the experiences of the people of Papua New Guinea, heeding Pope Francis’ call for more commitments in seeking solutions to climate change.
The cardinal’s presentation featured a short video that included a dire predicament in Kiribati, a Central Pacific nation made up of 33 islands.
“The sea level is rising; the country is extremely vulnerable. It is a very serious situation,” said a woman in the video about how climate change is affecting the islands.
Climate change is adversely affecting the livelihood of the people and threatening the existence of the islands, several people in the video warn.
“We know it’s coming; they need to migrate,” a government official notes.
Another issue Cardinal Ribat raised was mining on the floor of the ocean, which he said could damage marine life as well as the livelihood of the people.
Grace Barry, an 18-year-old freshman who attended the lecture, said, “This is all so interesting. I had no idea what was going on in the South Pacific…It was a very well-rounded presentation.”
Ms. Barry said she understands the faith-based concerns about protecting the environment.
Cardinal Ribat was elevated as the first cardinal of Papua New Guinea by Pope Francis in November 2016.
The archbishop of Port Moresby is the nation’s first locally born cardinal and the first cardinal from the Missionaries of the Sacred Heart.
His lecture was sponsored by the college’s accounting, business and economics, philosophy and religious studies departments and by campus ministry.
 Co-sponsors were the Sisters of Charity of New York’s Office of Peace, Justice and Integrity of Creation, and the Metro New York chapter of the Global Catholic Climate Movement.

Information: Sister Carol De Angelo, S.C., director of Office of Peace, Justice and Integrity of Creation, Sisters of Charity of New York, (718) 549-9200, ext. 264.

PM O’Neill thanks France for disaster relief

Prime Minister  Peter O’Neill has thanked the government of France for its recent shipment of food supplies to assist earthquake victims in the Highlands.

Papua New Guinea’s gratitude for relief support was conveyed by the prime minister to the new French Ambassador, Philippe Janvier-Kamiyama, in Port Moresby this morning.

“We thank the French government for the shipment of tuna, bully beef and rice that was delivered to Papua New Guinea on a French Navy frigate,” O'Neill said.
"These food supplies are now being delivered to affected communities in the disaster area.
“France and Papua New Guinea might be separated by great distance, but this gesture is a demonstration of the closeness of our relationship.”
O’Neill said engagement between PNG and France continues to grow as the construction phase of the Papua LNG project draws near.
“Our Government is working with French company TOTAL S.A. and other partners to advance Papua New Guinea’s next major gas project," he said.
“This project will inject billions of dollars into our economy, and employ and train thousands of Papua New Guineans.
“All parties will continue to advance the Papua LNG project and create new jobs for our people.”
 O’Neill welcomed Ambassador Janvier-Kamiyama to his new appointment and wished him success during his time in Papua New Guinea.

“Ambassador Janvier-Kamiyama advised me that Papua New Guinea was his first choice for his diplomatic posting, and we welcome him to our country," he said.
“I hope his contribution further increases trade and investment between our countries, and that he also has the opportunity to travel throughout Papua New Guinea and have good experiences in our country.”

Touching down with relief in Fuma

PORT MORESBY– ExxonMobil PNG is continuing to support local and international aid agencies to provide support to earthquake relief efforts.
This week ExxonMobil PNG staff touched down by helicopter in the remote village of Fuma in Western Province.

 The earthquake rendered river water undrinkable, and flooding swept away canoes – cutting off the only mode of transportation across the river to reach their gardens – blocking access to food.
No roads lead to Fuma; supplies can only be delivered by air.
  Food water, tarps solar lights, along with Mum/baby kits provided by the New Zealand government, were included in the airdrop.

The appreciation from the community, who had no expectation of help coming, was a humbling experience for the ExxonMobil PNG team. 

Why a Papua New Guinea company is taking over one of Alaska’s biggest oil fields

by Elizabeth Harball, ktoo.org
March 28, 2018

Before getting in to who’s drilling there and why, let’s make one thing clear about this oil field: the state of Alaska thinks it’s a very big deal.

Oil Search Alaska LLC President Keiran Wulff at the company’s Anchorage office.Photo by Elizabeth Harball/Alaska’s Energy Desk

“Literally, if you line up the big fields up on the North Slope, this probably ranks third behind Prudhoe Bay and Kuparuk,” said Alaska Department of Natural Resources Commissioner Andy Mack.
Prudhoe Bay and Kuparuk, of course, are the giant oil fields responsible for making Alaska the oil state it is today.
And on a chunk of state and native owned land west of Prudhoe Bay called the Pikka Unit, one company thinks there might be over a billion barrels of recoverable oil. Mack said the oil in this area alone could reverse the long-term decline in the amount of oil flowing down the trans-Alaska pipeline.
“If all goes well, it could lead to not only flattened production, but also increased production,” Mack said.
So last fall, when a company a lot of Alaskans hadn’t heard of moved to take over developing this oil field, it got people’s attention.
Oil Search is a company based in Papua New Guinea, a country just south of the equator and just north of Australia, where it also has offices.
An oil project in the Arctic may seem like an odd leap for a company from an island nation in the South Pacific.
But in a recent interview, the newly-minted president of Oil Search Alaska, Keiran Wulff, said the company is serious about its new venture.
“We see Alaska as a place of enormous opportunity,” Wulff said.
Wulff said its first planed development in Alaska could represent a significant investment for Oil Search — in the range of $4 billion to $6 billion.
 The company bought a significant stake in the project last year from its main partner, Denver-based Armstrong Oil and Gas, with an option to take over the rest of Armstrong’s stake if all goes well. (The Spanish oil company Repsol continues to own a significant percentage.)
Last week, Oil Search officially took over as operator of the field.
 That means when it comes to actually getting an oil development off the ground, Oil Search is in the drivers seat.
Sitting in the conference room of the company’s new offices in downtown Anchorage, which it now shares with Armstrong, Wulff makes it clear Oil Search is gearing up for what could be something big.
“We’ve just taken the whole floor here — we’re actually expanding so that we can fit over 120 people on this floor, and the majority of them will be Alaskans,” Wulff said.
So why did Oil Search come to Alaska?
 The company operates all the producing oil fields in Papua New Guinea.
 But the bulk of what it’s invested in there is gas  — it’s a partner in a major LNG project there — so the company decided it needed to balance its portfolio.
True to its name, Wulff said Oil Search came to Alaska searching for more oil.
“Gas projects — as the state’s finding out right now — often take many years to come to fruition, whereas oil projects are a lot quicker to market, so it’s very important for any company to have a balance between oil and gas,” Wulff said.
It might not seem like Papua New Guinea and Alaska have much in common. But Wulff said his company sees a lot of similarities.
“Papua New Guinea is one of the most challenging places to work on the planet.
" It’s very remote, very mountainous, there are no roads, there is no infrastructure to speak of.
"And everything has to be brought in on helicopters and such,” Wulff explained.
Beyond logistics, Wulff said Oil Search has experience negotiating with local communities living near where the company wants to drill.
 Wulff thinks in some ways, communities in Papua New Guinea and communities on the North Slope have similar values.
“[They are] very passionate about their environment, very passionate about their way of life.
"And so an important part there — and a strong analogy between Papua New Guinea and Alaska — is the commitment and passion of the local community to their areas, and that’s something you’ve got to respect and be very cognizant of,” Wulff said.
Wulff said Oil Search’s discussions with Nuiqsut — the community closest to the company’s first planned development — are still in their infancy.
 Kuukpik, the village corporation for Nuiqsut, has spoken in favor of the development, but records from public meetings show that some in the community have concerns about the project’s potential impacts.
“We’ve been doing a lot of listening,” Wulff said.
And that’s not the only remaining issue.
 Oil Search wants to drill a few more appraisal wells to get a better idea of how much oil it’s actually sitting on.
“Look, I think it’s still a long way to go before people understand how big this field is,” Wulff said.
 “Our company is quite a conservative company.
" We don’t over-promote and we don’t over-promise.
" Our style is much more to under-promise and over-deliver.”
Depending on whether and how all the details come together, it’s possible that by 2023, a Papua New Guinea company could begin producing from one of the biggest oil developments in Alaska’s history.

ADB, JICA to support 20,000 smallholder farmers , including PNG, with $163 million inclusive agribusiness deal

adb.org
March 28, 2018

MANILA, PHILIPPINES (28 March 2018) — The Asian Development Bank (ADB) and the Japan International Cooperation Agency (JICA) today signed $163 million in loan agreements with Olam International Limited (OIL) and Café Outspan Vietnam Limited (COVL), a subsidiary of OIL.
The loans will help improve inclusive and sustainable agricultural value chains, directly benefiting up to 20,000 smallholder farmers in Indonesia, Papua New Guinea (PNG), Timor-Leste, and Viet Nam.
ADB’s assistance includes a $83 million loan to OIL and a $5 million loan to COVL.
 The project is ADB’s first nonsovereign assistance directly cofinanced by JICA, which will lend $75 million to COVL.
“Developing formal value chains is essential for farmers in Asia and the Pacific to integrate with the global economy and increase the value of their products,” said ADB Investment Specialist Juhyun Jeong.
 “ADB and JICA’s partnership with OIL and COVL will help smallholder farmers expand their production and operations, improving livelihoods by promoting inclusive and sustainable development.”
“Olam’s comprehensive and grassroots approach to improve agricultural value chains brings significant positive impacts to farmers and the agribusiness industry,” said JICA’s Investment Officer Gyo Shibata.
“For the partnership with ADB’s private sector operations, we are excited to ink the first direct cofinancing deal and explore further collaborations.”
“This loan agreement underpins the mutual aims of Olam, ADB, and JICA to support the economic prosperity of farmers as well as help them become stewards of the environment—essential for the future of agricultural production,” said Prakash Jhanwer, Regional Head for South East Asia at Olam International.
The Agricultural Value Chain Development Project will support OIL’s $211 million investment plan until 2019 by financing an expansion in the firm’s processing of midstream products, while providing permanent working capital investments for smallholder farmers, particularly in Indonesia (coffee and cocoa); PNG (coffee and cocoa); Timor-Leste (coffee); and Viet Nam (coffee, cashew, and pepper).
The assistance will also help OIL develop processing plants to create a more seamless integration of farmers, markets, and customers, adding more value in local markets and improving agricultural value chains.
The project includes $3 million in technical assistance (TA), partially financed by the Canadian Climate Fund for the Private Sector in Asia, to provide capacity building training to about 20,000 smallholder coffee farmers across the project countries.
 The TA includes training in avoiding deforestation and increasing productivity through climate-smart agriculture practices, including water harvesting and soil management.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members—48 from the region.

Olam International is a leading agribusiness operating across the value chain in 66 countries, supplying various products across 18 platforms to more than 22,000 customers worldwide.

JICA, based in Tokyo, is the Japanese government agency to execute official development assistance and committed to take the lead in forging bonds across the world through contributing to sustainable socioeconomic development in developing countries.

Australia’s illegal fishing crackdown leads to PNG national detainments

Jason Holland
SeafoodSource
March 28, 2018

Two banana boats from Papua New Guinea (PNG) have been apprehended in the Torres Strait by Australian authorities for suspected illegal fishing.
The Australian Border Force (ABF), working under the operational command of Maritime Border Command (MBC), apprehended the first vessel earlier this month in the shallow waters of Saibai Island, in the far north of Torres Strait.

Four PNG nationals were later interviewed by the Australian Fisheries Management Authority (AFMA) in relation to unlicensed commercial fishing for crab and tropical rock lobster.
The boat, the catch, and the equipment onboard were seized.
The second vessel was sighted by an MBC surveillance aircraft on 15 March inside the Torres Strait Protected Zone (TSPZ), and was intercepted by an ABF vessel near Warrior Reef.
A crew of four was found to be in possession of 80 tropical rock lobster tails, far in excess of the permitted quantity of six. Their boat, catch, and equipment were seized, and the master and crew were handed over to PNG officials for further investigation.
Under the terms of the Torres Strait Treaty, PNG nationals suspected of fishing illegally in Australian waters are repatriated to PNG for processing.
Evidence packs for both apprehensions were supplied to PNG officials to assist with prosecutions.
“We are aware of the additional considerations that need to be taken into account under the terms of the Torres Strait Treaty, to allow the traditional way of life for PNG villagers and Torres Strait islanders to continue,” said Peter Venslovas, general manager of operations at AFMA.
“However, these considerations will not prevent swift and decisive action from being taken when necessary, and there will be no leeway given to those who break the law.”
When it comes to fishing rights, the Torres Strait Treaty fulfills the following key functions:

• Ensures that commercial fishing in the TSPZ is in harmony with traditional fishing;
• Provides for commercial fishing by both Australia and PNG;
• Includes arrangements for the sharing of the commercial catch; and
• Allows both countries to work together in licensing and policing, as well as in the preservation, protection and management of fisheries.