There is little upstream activity in Timor Leste and no commercial oil and gas production. Two non-commercial oil fields have been discovered, however, the most recent of these discoveries was in 1972. Total technical reserves from these fields amounts to 200,000 barrels of oil. The country held its first licence round in 2005, with 11 blocks offered. Six were awarded, with Eni picking-up five deepwater blocks. It drilled an unsuccessful exploration well in 2010. Reliance Industries also ...
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Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.
This country report gives an overview of the key upstream issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream summary is your definitive commercial guide.
Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.
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Country report | Feb 2016
Timor-Leste upstream summary
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