Calmer waters in Timor Leste?
A new exploration deal should benefit Timor-Leste and may point to a breakthrough in a maritime dispute with Australia
In April Australia's Timor Resources became the first private oil and gas company in more than 40 years to win the right to explore and develop Timor-Leste's onshore fields when it signed two production-sharing contracts with state-owned authority AMPM. The deal, which covers two blocks, marks a breakthrough in the impoverished, recently independent country's long-planned $2bn project to establish a petroleum corridor along its southern coast. The deal is all the more surprising because Timor-Leste, formerly known as East Timor, is still embroiled in a dispute over maritime zones with Australia that finally ended up in The Hague's Permanent Court of Arbitration in mid-2016, despite Canberra'
Also in this section
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent
16 January 2025
The government’s resource nationalism is aggravating the NOC’s debt position and could yet worsen if also tasked with the decarbonisation shift
