DILI, 11 October 2022 (TATOLI) – The National Petroleum and Minerals Authority (ANPM) has urged Timor Resources, Australia’s private oil and gas company to carry out its work based on the existing Production Sharing Contract (PSC).
Soares made the comments in response to a recent statement made by Timor Resources Country Manager, Filomeno de Andrade regarding Timor-Resource’s plan to support Timor-Leste in building an oil refinery in the country.
“Timor Resource has yet to submit to ANPM a declaration of a commercial discovery of its oil and gas exploration in southern municipalities. Therefore, I think it is better for the company to just focus on doing their work based on the existing PSC. Once we receive the company’s declaration of a commercial discovery, then they can move on to the next step,” ANMP President Florentino Mateus Soares Ferreira made the comments at the National Parliament in Díli.
Ferreira said the company has money to invest in Timor-Leste, saying it has to finish its current work of drilling the remaining unexplored wells.
To date, ANPM has not received any official results from the oil and gas exploration of the Liu-Rai well in the southern part of the country.
To date, ANPM has not received any official results of the oil and gas exploration of the Liu-Rai well by Timor Resource.
“We have not received any official oil and gas exploration results of the three wells in the southern municipalities. So, the company needs to present the result before moving on to the next step. It is still a long way to go as they still have to complete some technical work,” Ferreira concluded.
Journalist: Antónia Gusmão
Editor: Julia Chatarina/Nelia Borges
Translator: Nelia Borges