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Timor-Leste’s authorities has finalised the awards of oil and fuel exploration blocks within the nation’s second-ever licensing spherical.
Offshore regulator the Nationwide Authority for Petroleum and Minerals (ANPM) introduced that 5 of the six blocks that acquired bids had been awarded.
Italian power main Eni and Australia’s Santos have the very best profile of the 5 recipients.
Eni was awarded offshore Block P, which is near the Larger Dawn fields.
Santos was awarded offshore Block R, close to the Kitan, Buffalo and Bayu-Undan fields, forward of a competing bid by Supernova Vitality.
Onshore blocks A, B and F had been awarded to state-owned Timor Hole, ETO Lda and HTS Exploration, respectively.
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Throughout the bidding part, Block F was the most well-liked allow with three competing bids.
The offshore Block N additionally acquired a bid by Dravida Petroleum, however was not awarded.
In complete, there have been 18 new blocks on provide within the licensing spherical consisting of seven onshore permits and 11 offshore licences.
9 bids had been submitted from seven firms for the six blocks.
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