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Timor-Leste signs onshore Production Sharing Contracts

13 Apr 2017

Photo - see caption

On Friday, April 7th 2017, ANPM (Autoridade Nacional Do Petroleo e Minerais Timor Leste) awarded onshore Production Sharing Contracts (PSC) TL-OT-17-08 and TL-OT-17-09 to TIMOR GAP Onshore Block, Unipessoal, Lda (a subsidiary of TIMOR GAP, E.P.) and to TIMOR RESOURCES PTY LTD.

Considering the importance of petroleum resources for the National Strategic Development, there is a need to increase oil exploration activities in the Territory of Timor-Leste.

In December 2015, Government approved the Resolution No. 44/2015 of 22nd December, which authorised  the participation of TIMOR-GAP, E.P in the Production Sharing Contracts both in onshore and offshore of the Territory of Timor-Leste. This includes the latest Government Resolution No. 39/2016 of 23rd November, on block subdivision for onshore, and Dispatch No. 09 / GMPRM / XI / 2016, on direct award of petroleum contracts by means of direct negotiation, in certain onshore blocks in South-West Timor-Leste.

The Law 13/2005 of 2nd September on Petroleum Activities Law and Decree-Law No. 6/2015 of 11th March confer on the Ministry of Petroleum and Mineral Resources powers to authorize oil and gas companies to undertake studies, explore and develop the existing petroleum resources in the Territory of Timor-Leste, in order to generate maximum benefit to the country and its people.

Acting pursuant to the Petroleum Activities Law, the Ministry herewith awards these petroleum contracts by means of direct negotiation based on public interest to TIMOR GAP, incorporated and organized under the existing laws of the Democratic Republic of Timor-Leste, and TIMOR RESOURCES PTY LTD, a company incorporated in Australia, and both parties are collectively referred to as 'Contractor' for the Production Sharing Contracts (PSC’s) TL-OT-17-08, which covers Covalima and Bobonaro Municipalities, and TL-OT-17-09, which covers Manufahi and Ainaro Municipalities.

The minimum work commitments for each of the PSCs are outlined in the table below:

Photo - see caption

The participation of the TIMOR GAP and its partners will promote capacity building for Timorese nationals and transfer of knowledge and technology on the petroleum industry and enable a greater participation of Timor-Leste nationals in the petroleum industry in the country.

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Source: ANPM

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