Timor Leste to Announce Open Door Licensing Round

Timor-Leste will be announcing the open door licencing round during a special session at the Timor-Leste Oil & Gas Summit in Dili on October 3, country’s ministry of petroleum and mineral said October 1 in a statement.

“This announcement will be followed by two days of conferences dedicated to technical presentations to detail the hydrocarbon proven potential, contractual, fiscal, legal and regulatory regime for the exploration and the exploitation of petroleum resources, and business registration in the country,” the ministry said.

The prime minister Taur Matan Ruak will release information on available blocks, the fiscal terms, round timings and conditions of the first onshore and the second offshore licensing round, which will be open internationally to all companies to bid on, the ministry added.