REPÚBLICA DEMOCRÁTICA DE TIMOR-LESTE
The deadline for international companies to bid for Timor-Leste offshore acreage was 19 April 2006. From the eleven contract areas available in this first bidding round, six received offers from the international companies through a total of nine bids.
The ratification decision, a summary of the proposed evaluation results and a significant summary of the Evaluation Report will be published in the Jornal da Républica and on the web site of Ministry of Natural Resources, Minerals and Energy Policy; http://www.timor-leste.gov.tl/EMRD/. The Petroleum Act, Bidding Round Regulations and the Final Tender Protocol can be also found on the website.
Timor-Leste became the world’s newest nation in May 2002, and less than two years later made its debut as a significant petroleum producer with first production from the Bayu-Undan Field, a joint development with Australia pursuant to which Timor-Leste receives 90% of the state take from production.
To build on this success, the Government of Timor-Leste opened a significant portion of the nation’s offshore area to petroleum exploration and development by qualified companies.
Dili, 22 May 2006
For further information please contact the Media Advisor: Rui Flores (tel. +670 723 01 40 or firstname.lastname@example.org)
The Timor-Leste Institute for Development Monitoring and Analysis (La’o Hamutuk)