Country Report
Timor-Leste upstream summary
Report summary
Upstream summary for Timor-Leste. Resolution of the long-running maritime border dispute with Australia in 2019 saw Bayu-Undan, Timor-Leste's only producing field, transferred to Timorese oversight. Bayu-Undan is due to cease production in 2023 and the Timor-Leste government is keen to fill the fiscal gap this creates with other producing assets. Potential production could come form offshore gas fields, or onshore oil discoveries.
Table of contents
- Executive summary
- Key facts
- Location maps
- Key companies
-
Geology
- Introduction
-
Exploration
-
Licensing
- Offshore sector - Zone Of Cooperation Area A (ZOCA) and Joint Petroleum Development Area (JPDA) - (1989 - 2019)
- Dissolution of ZOC/JPDA (2019)
- Timor-Leste (2002 - 2019)
- Timor-Leste (post-August 2019)
-
Drilling
- Drilling activity
- Success rates
-
Licensing
- Reserves and resources
-
Production
- Oil/liquids
- Gas
-
Infrastructure
- Oil infrastructure
- Gas infrastructure
-
Policy and regulation
- Key legislation
- International boundaries
-
Licensing
- Regulation
- Licence types
-
Fiscal terms
- Overview
-
Current fiscal terms
- Model production sharing contract
- Domestic market obligation
- Income tax
- Small field depreciation
- Historical JPDA fiscal terms
- Pre-2006 JPDA PSC terms (Bayu-Undan and Elang Kakatua)
- Post-2006 JPDA PSC terms (Kitan)
- Timor Leste/Australia Sunrise PSC
-
Historical background
- Sample Cash Flows Key Assumptions
Tables and charts
This report includes 14 images and tables including:
- Key facts: Table 1
- Location maps: Image 1
- Net Acreage 2024
- Production: Table 1
- Production: Table 2
- Liquids production
- Production: Table 3
- Production: Table 4
- Gas production
- Blocks Awarded
- Timor-Leste 2019 licensing round - blocks on offer
- Drilling Activity and Commercial Success Rates (1970 - 2023)
- GEM models
- Fiscal terms: Table 2
What's included
This report contains:
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