 |
|
Timor-Leste became the
world's newest nation on 20 May 2002, and shortly afterwards
made its debut as a significant petroleum producer. The new
nation has already demonstrated the capacity to facilitate development
in a competitive, transparent and responsible manner.
So far production has come from a joint development area in
the Timor Sea, but now the Timor-Leste Government has developed
its own legal and fiscal regime for investment in highly prospective
onshore and offshore areas.
In August 2005 Timor-Leste launched its first independent offshore
licensing round. The first phase of the process was completed
with the acquisition of more than 6600 kms of 2D seismic, a
regional grid covering the entire Timor-Leste exclusive area
between the JPDA and Timor-Leste. This data is now available
to industry, which will have six months to assess it prior to
the bid deadline in mid-March 2006. Awards will be made in the
2nd quarter of 2006. |
 |
|
|
|
Return to Top 
Navigation
Welcome
to the Direcção Nacional de Petróleo e Gas (formerly
the Oil, Gas & Energy Directorate)