Timor-Leste Upstream Fiscal and Regulatory Guide
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Timor-Leste is hosting a licensing round (contract signature planned for January 2021) to attract new exploration investment to counter the decline in production from the Bayu-Undan field, the country’s main producing field (gas and condensate), which will be depleted by 2021. It is plausible that in the coming years Timor-Leste will continue awarding licenses either via new licensing rounds or direct negotiations. As a result of the March 2018 treaty setting the maritime boundaries between Australia and Timor-Leste, the Greater Sunrise fields’ Designated Authority will enter the Greater Sunrise PSA under conditions equivalent to the previously signed PSAs; however, it is still not decided what the best development concept for these fields is. As for the Greater Sunrise Special Regime (GSSR), the Interim Petroleum Mining Code will initially regulate the development and exploitation of petroleum resources from the area; however, it will be replaced as soon as possible by a final Petroleum Mining Code, which will be approved by the Governance Board and the Designated Authority of the GSSR.
“Timor-Leste Upstream Fiscal and Regulatory Guide”, presents the essential information relating to the terms which govern investment into Timor-Leste’s upstream oil and gas sector. The report sets out in detail the contractual framework under which firms must operate in the industry, clearly defining factors affecting profitability and quantifying the state’s take from hydrocarbon production. Considering political, economic and industry specific variables, the report also analyses future trends for Timor-Leste’s upstream oil and gas investment climate.
Scope
Overview of current fiscal terms governing upstream oil and gas operations in Timor-Leste
Assessment of the current fiscal regime’s state take and attractiveness to investors
Charts illustrating the regime structure, and legal and institutional frameworks
Detail on legal framework and governing bodies administering the industry
Levels of upfront payments and taxation applicable to oil and gas production
Information on application of fiscal and regulatory terms to specific licenses
Outlook on future of fiscal and regulatory terms in Timor-Leste
Reasons to Buy
Understand the complex regulations and contractual requirements applicable to Timor-Leste’s upstream oil and gas sector
Evaluate factors determining profit levels in the industry
Identify potential regulatory issues facing investors in the country’s upstream sector
Utilize considered insight on future trends to inform decision-making
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