Petroleum Minister17 Dec 2024 07:39
MPRM, HOISTING THE FLAG OF TIMOR-LESTE'S OIL AND MINERAL PROSPECTS IN 2024. Dili, December 13, 2024
The Ministry of Petroleum and Mineral Resources, together with the supervisory institutions ANP, IP, Timor Gap, EP, ANM, IP, MRT, EP, and IGTL, IP, conducted a reflection to evaluate the achievements and challenges encountered during the year 2024 and project the
implementation of strategic programs for 2025. In the reflection held at Delta Nova Dili, His Excellency Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro, praised the rigorous work of the division within the ministry and the supervisorv institutions. which contributed to the success of the government's principal program, the Greater Sunrise project, and other strategic programs in the oil and mineral sectors for 2024.
Regarding the concept study conducted by Wood Australia, His Excellency Minister highlighted the positive result of the study in terms of technical and commercial feasibility to ensure data on the Greater Sunrise resources flowing to Timor-Leste. This has also been confirmed by the Timor-Leste government, Australia, and the Joint Venture Company.
Remarkable progress made in 2024 includes continuous exploration of oil and gas in onshore and offshore area which is under responsibility of the regulatory authority, ANP, IP and TIMOR GAP, EP. Also, the prospecting of metallic minerals and rare earths implemented by ANM, IP, and MRT, EP. Additionally, geological research, including the discovery of fossilized ichthyosaur bones in the Bobonaro Municipality and promotion to attract investors in the oil and mineral sector, which can impact Timor-Leste's economy.
MPRM continues to invest in human resource development to enhance technical skills and support institutional development towards realizing the strategic program.
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