Timor-Leste put on the World’s Exploration Map
Data Package Will Enable Operators to Evaluate New Country’s Oil and Gas Potential
EPSOM, UK (8 December 2005) — The Democratic Republic of Timor-Leste (also known as East Timor), which became the world’s newest nation on 20 May 2002, has announced its first independent exploration round, and is assisted in this effort by one of IHS Energy’s comprehensive data packages.
IHS Energy has announced the availability of a package of digital subsurface data developed to assist potential bidders for the exploration round, details of which were formally announced in October.
The license round represents a vital step for Timor-Leste’s exploration programme and development of its production infrastructure. Currently, oil and gas production activity has been limited to offshore areas jointly operated with Australia under the JPDA.
Peter O’Shea, Senior Director of Business Development at IHS Energy, said; “We are delighted to be helping Timor-Leste as the country has taken time and effort to get its petroleum legislation in place and is proceeding in a very professional way that will allow bidders to fully evaluate the opportunities on offer.”
IHS Energy’s package includes digital well log data plus seismic from several near-shore surveys, and a collection of geological reports and maps. It is supplemented by a comprehensive Basin Monitor, production data, and the Timor Island Study – an analysis performed in 1992 of the accumulated seismic and well log data.
Under the exploration round Timor-Leste is offering the offshore exploration area south of Timor-Leste covering an area of approximately 30,000 square kilometres, and extending from the Timor-Leste coast in the north to the JPDA in the south. Water depths vary between very shallow to 3000 metres. The offshore area south of Timor-Leste will be divided into 11 proposed exploration areas ranging from 1,409 sq km to 4,215 sq km.
Amandio Soares, Director of Oil and Gas within the Oil, Gas and Energy Directorate said; “Our aim is for sustainable progress to ensure that the correct developments and infrastructure are put in place to provide a favourable business environment for the future of our national oil industry.”
IHS Energy’s Regional Editor, Paul Rheinberg, commented on the opportunities; “The overall terms and operational conditions look stable and supportive and there is a good outlook for prospectivity. The high number of oil seeps could indicate similar source rocks as those in the Australian Northwest.”
For more information on IHS Energy’s Timor-Leste information package, please contact visit http://energy.ihs.com/Products/East-Timor.
IHS Energy enables oil and gas companies worldwide to create and maintain best-in-class decision-making processes by providing and integrating essential E&P information, intuitive software and consulting services. IHS Energy is an operating division of IHS Inc. (www.ihs.com). IHS is one of the leading global providers of critical technical information, decision-support tools and related services to customers in a number of industries including energy, defense, aerospace, construction, electronics and automotive.