Timor-Leste launched its 2nd Licencing Round during the first Timor-Leste Oil & Gas Summit in October 2019. Since then, ANPM has been attracting top IOCs from all over the world to its roadshows and data rooms. These IOCs do not only include the majors, but new and rapidly growing IOCs.
Why are so many EPs from different regions - and sizes - interested in such a young nation in Southeast Asia? It is the abundance of opportunities and constant growth. Since its inception, Timor-Leste has been investing in major EP and infrastructure projects to make the most out of its huge potential.
The current upstream developments, and midstream initiatives, reveal a lot about the available business opportunities, worth more than $70 billion in total.
Timor-Leste in Projects and Numbers
Offshore Greater Sunrise: A $65 billion oil and gas giant
Timor-Leste is the majority shareholder of the Greater Sunrise fields, a gas giant containing more than 5.13 trillion cubic feet of gas, worth at least $50 billion dollars. In addition to the massive quantities of gas, the blocks contain 225.9 million barrels of condensate reserves, worth over $15 billion.
As the project is developing, major partnership opportunities are created in upstream and midstream, funded by the highly successful $20 billion Bayu-Undan offshore field. These opportunities were discussed in detail by ANPM at the Timor Leste Oil & Gas: The Energy Online Series.
Onshore Timor-Leste: Exploration blocks are available, following successful operations
Onshore exploration has begun at blocks A & C in Timor Leste, with independent assessments indicating that the blocks contain more than 127 million barrels of recoverable oil. The profits are projected to start at $3.5 billion minimum, with the potential to reach $12 billion as the onshore fields reach their potential.
Tasi Mane Mega Project: Opportunities for service providers
As Timor-Leste is experiencing tremendous growth in upstream activities, the need for midstream and downstream facilities is increasing. As such, Timor-Leste is investing over $1 billion in building an all-encompassing cluster of midstream and downstream projects to assist companies in making the most out of offshore and onshore exploration. These opportunities include contracts for refineries, petrochemical plants, LNG plants, major fuel and gasoline distribution networks, which will encompass all of the country’s future activities.
Why 2020-2021 is the best period to enter Timor-Leste? Timor-Leste’s Joint Petroleum Development Area
Timor-Leste is creating a very stable environment for large-scale regional investments by establishing partnerships with its neighbours and resolving outstanding issues. The country is cooperating with Australia and major regional IOCs to make the most out of the Greater Sunrise reserves and future discoveries. By establishing the Joint Development Area, through the ground-breaking Timor Sea Treaty, Timor-Leste has created energy development initiatives, leading to major upstream and midstream contracts and opportunities in the country. The JDA is set to become one of the most prominent examples of successful cooperation between multiple countries and IOCs globally.
Discover more about these opportunities directly from ANPM at the 2nd Timor-Leste Oil & Gas Summit. Meet the country’s key players and find the latest business opportunities in upstream and midstream, its 2nd Licensing Round, exploration updates and new midstream projects.
For more information on Timor-Leste’s 2nd Offshore and Onshore Licensing Round visit ANPM’s site here: http://licensinground.anpm.tl/