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4th TLEM summit focused on oil and energy, local content, and mineral activity

4th TLEM summit focused on oil and energy, local content, and mineral activity

(Photo/ANPM)

DILI, 16 june 2022 (TATOLI)– The President of the National Petroleum and Minerals Authority, Florentino Soares Ferreiraat said, the 4th Timor-Leste Energy and Mining Summit has focused on three vital points including oil and energy, local content, and mineral activity.

“This is the positive point that ANPM got at this summit, most of the national and international companies are very interested in oil and gas projects in Timor-Leste,” Florentino Soares Ferreiraat said at the Closing of the 4th Timor-Leste Energy and Mining Summit, at City-8 Hall, Dili, Thursday.

Ferreira said that for three days ANPM had been sharing information with companies about the progress of oil and gas, specifically activities in 15 blocks including six onshore and nine offshore.

“Most international companies take part in presentations on petroleum, energy and mineral activities and had a further understanding of the quantity and quality of oil and gas in Timor-Leste,”

However, Ferreira said that according to ANPM’s prediction Bayu Undan’s oil production will run out soon and because the resource is a non-renewable resource, ANPM should take the opportunity to replace it with the Carbon Capture and Storages (CCS) project as the most important resources that can contribute revenue of about 7 billion USD to the country.

“The CCS project will replace the Bayu Undan project when the project is ceased”

At the same event, Vice President of the National Petroleum and Minerals Authority, José Manuel Gonçalves said the Oil and Minerals Authority was also talking about mineral resources in Timor-Leste, adding that they were focused on introducing Mineral exploration tenders to companies. ‘

‘We introduced potential mineral resources consisting of marble, copper-gold, silver, manganese, and others and ANPM also intended to provide exploration tenders for national and international companies and as a positive result we were able to find 6 to 10 national and international companies that interested in the tender,”

He explained that the discussion was also focused on the legal framework for the mineral decree-law.

“We know that for many years Timor-Leste has mostly relied on ministerial diplomats to conduct exploration activities, although we acknowledge that there are several codes that allow us to initiate activities, therefore we sincerely hope the President will approve the mining law as soon as possible,” he said.

Meanwhile, another topic of discussion was local content, which focused on capacity building, logistics management, and employment.

“ANPM asks International Companies to establish Petroleum School institutions in Timor-Leste if they have the opportunity to invest in petroleum to produce more petroleum Engineers to support exploration activities in Timor-Leste.”

 

Journalist: José  Belarmino de Sa

Editor: Nelia B

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