The Timor-Leste Prime-Minister and the National Petroleum and Minerals Authority have today announced, at the first Timor-Leste Oil & Gas Summit, the opening of the country’s second oil & gas licensing round. There is plenty of highly prospective acreage on offer, with 18 blocks, 7 onshore and 11 offshore, including areas previously included in the Joint Petroleum Development Area.
Pre-qualification will commence in November 2019 and go through until August 2020. The bid application deadline will commence in April 2020 and end on 9 October 2020, and the award of blocks will be announced on 4 December. PSC negotiations will follow and signing is expected to take place by 29 January 2021.
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