ANP-ENI Company enters into a production agreement in the sea area

ANP-ENI Company enters into a production agreement in the sea area

DILI, 14 december 2023 (TATOLI) – The government, through the National Authority for Petroleum (ANP), entered into a contractual agreement with Italy’s Eni Company to share production under the name KFP TL-SO-22-23 for Block P in the sea area.

Minister of Petroleum and Mineral Resources (MPRM), Francisco da Costa Monteiro, considers the ENI Company one of the major companies in the world that continues to show its interest in the potential that corresponds to Timor-Leste’s marine thinking.

“Since we established our maritime borders in this vast sea area, it allows us to promote, and therefore, the signature of this contract with the Italian company is an important milestone. It also reaffirms our plans to look for other potentials in the future, such as the Greater Sunrise development, so that we can be successful or at least bring income from the management of these resources to the country,” MPRM Minister Francisco da Costa Monteiro said in his speech on Thursday.

This is part of the 9th government’s plan to implement; if the oil in Bayu Undan dries up, this will also help the government’s economic revenue for Greater Sunrise in the future.

“It’s a three-year exploration and research phase, but we’ve managed to achieve a lot in the early stages even though it hasn’t been three years. But we can move to the next stage, and most of the budget comes from the company,” he added.

Meanwhile, ANP Chairman Gualdino do Carmo da Silva considers the investment to be substantial.

“After an international competition opened during the COVID-19 pandemic and was finally finalized last year, the Eni company was the winner. After that, contract negotiations began until the agreement was signed. They run services such as seismic surveys or drilling; this is a big investment because this project is located in the Timor Sea area, 100% in our territory,” he said.

He hopes that the work will be completed well for the success of the company and also for the people and country of Timor-Leste.

At the same time, ANP, representing the Government of Timor-Leste, signed the TL-SO-22-23 co-production contract for Block P in the sea area with Eni Timor 2022-2023 B.V., a subsidiary of the Italian company Eni Italia.

KFP TL-SO-22-23 is a block area located in the South Sea and close to the Greater Sunrise area. The block refers to block 18, which was launched by the government in the second round from 2019 to 2022 and won by Eni Australia during the second round.

With this contract, Eni Timor 2022-2023 B.V. has the right to commence oil activities during the study period, which will include 2D and 3D seismic mapping programs and well drilling to search for potential oil and gas deposits in the KFP area for blocks TL-SO 22–23.

The agreement was signed at Hotel Timor by ANP Chairman Gualdino do Carmo da Silva and Eni’s Corporate Director, Daniel Palermo, and witnessed by members of the IX Government, comprising Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro, Minister of Investment and Strategic Planning, Gastão de Sousa, Minister of Social Solidarity and Inclusion, Verónica das Dores, and Minister of the Interior, Francisco da Costa.

Journalist: Camilio de Sousa
Editor: Rafael Ximenes de A. Belo


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