Member Info for filthylucre

I’m not sure, Pass. But. I want, we need to hear TL government officials talking up and sending out positive messages on Chuditch. Could do a lot for the share price.

London, 31.10.2023

Today, Ambassador JP-Rangel hosted a wonderful visit by two important representatives from BARON OIL PLC; Mr.

Andy Yeo, CEO and Mr. Andy Butler, Director Asia-Pacific and Managing Director of SundaGas Banda.

BARON OIL PLC and SundaGas Banda are working with our national company Timor Gap E.P. to explore the "CHUDITCH GAS FIELD" which could provide an estimated revenue of 10 Billions USD to our country.

This is going to be the largest British investment in Timor-Leste so far and the exploration is expected to begin next year.

Together We Stand!

This China link could be crucial.

PRESIDENT J. RAMOS-HORTA SWEARS IN TIMOR-LESTE'S AMBASSADORS TO CHINA AND THE PHILIPPINES

Nicolau Lobato Presidential Palace, Dili,

24th October 2023

Ambassador Loro Horta is determined to further fortify the bilateral ties between Timor-Leste and the People's Republic of China, emphasizing," The full potential of Sino Timor relations is far from materialized. My main priority will be attracting Chinese investment to Timor-Leste. We need investment that create jobs. China can offer Timor-Leste immense opportunities. Strong ties with China will reduce our dependence on other nations while broadening our strategic horizons."

Interesting post (LinkedIn) from an Aussie chemical engineer on the news of new Greater Sunrise discussions:

“It appears from this article that the preferred development option for the Greater Sunrise gas energy resource (discovered by Woodside in 1974 before the Indonesian military annexation of East Timor) is dictated more by policy and principle as opposed to technical, commercial, economic and operational pragmatic considerations. Woodside, the JV operator, is duty bound to shareholders to select the optimum development concept based on the above criteria. But it appears from this article that the TL authorities do not want Woodside to consider any other development concept than onshore LNG in Timor Leste. That would require twin 26” diameter gas pipelines traversing the seabed of the Timor Trough at maximum water depth of 2,900m. Technically possible but will Woodside be prepared to accept the risks? Are there better development concepts? “

https://en.tatoli.tl/2023/10/13/npa-timor-gap-and-australia-to-begin-negotiations-on-greater-sunrise-project-next-week/09/

The M&A opportunities expected to change hands are spread across the entire lifecycle, including producing, under development and newly discovered resources

There is a lot of money changing hands in Southeast Asia right now. The sheer magnitude of the oil and gas deals in the region will reignite the sector, reducing reliance on national oil companies (NOCs) and major players that has developed in recent decades. Southeast Asia presents an excellent opportunity for upstream players looking to strengthen their hydrocarbon portfolios.

M&A prospects that have the potential to support carbon capture and storage (CCS) and utilization efforts or facilitate decarbonization initiatives are expected to garner greater attention from large international players and local NOCs.

Regional experts and European independents will remain active participants in the market as they look to take advantage of deals on the table to expand their presence in Southeast Asia. Additionally, the allure of fiscal adjustments, exploration success, and concerns over energy security will likely stimulate the interest of global oil and gas players and international oil companies (IOCs).

https://www.rystadenergy.com/news/money-on-the-table-m-a-boom-in-se-asia-to-see-5-billion-of-upstream-assets-for-sa

Upstream M&A heats up in Indonesia as Eni eyes sell down of gas assets.

Gas and LNG opportunities are drawing increased attention as more mergers and acquisitions loom in Indonesia.

"Large and small players are looking to bring in partners at what are mostly yet-to-be-developed offshore gas-focused projects. These are drawing strong interest from Middle Eastern energy companies, as well as Indonesia-focused international oil companies (IOCs) and local operators," said the energy research company Welligence Energy Analytics.

PETRONAS, PT Pertamina (Persero), PERTAMINA EP, Conrad Asia Energy, Repsol, bp, Harbour Energy, Mubadala Energy, KUFPEC, ADNOC Group, as well as JSC Zarubezhneft, are among the potential movers and shakers.

EnergyNewsBulletin.net

MILAN, Oct 10 (Reuters) - Italian energy group Eni ENI.MI will continue to gradually shift its activity from oil to gas in the coming years, the group's chief executive said on Tuesday, adding the move has been one of the pillars of Eni's transformation strategy.

Earlier on Tuesday, attending another event, Descalzi said that Eni and the other European oil and gas groups must continue to invest in natural gas exploration and production to reduce the use of coal and to avoid rising energy prices that would hit both small customers and industry.

https://www.nasdaq.com/articles/shift-from-oil-to-gas-is-key-pillar-of-eni-transformation-ceo-says

The “Timor-Leste Carbon Capture and Storage Workshop” organized by the #ifc got underway this morning in Díli.

It was great to hear about the view of #timorleste from H.E. The Minister of Petroleum and Mineral Resources, Mr. Francisco Monteiro. Santos Ltd then discussed the potential of repurposing the Bayu-Undan fields as a storage hub, with presentations from Reinalda Pires and Matt Sherwell.

It’s been a great experience to work with David Freedman, Jeffrey Tan, Kelvin Tan, Frenqui Monteiro and the rest of the IFC team on this amazing and important project for Timor-Leste.

https://www.linkedin.com/posts/ricardo-silva-6256ab7_ifc-timorleste-ccus-activity-7117356390637010944-jQ5o?utm_source=share&utm_medium=member_ios

Santos Ltd Chief Executive Officer Kevin Gallagher has spoken about the huge demand for gas in the Asia-Pacific region as the world moves towards net zero.

"Most forecasts I have seen for our region alone shows gas increasing by around 50% in this region by 2050," Mr Gallagher told today's opening day of The Australian Financial Review 2023 Climate & Energy Summit.

"So if you just play that through, the role of gas is going to have a big part of the energy mix in future."

https://www.linkedin.com/posts/australian-energy-producers_santos-ltd-chief-executive-officer-kevin-activity-7116972793962921984-AlVM?utm_source=share&utm_medium=member_ios

H.E. Francisco da Costa Monteiro, Minister of Petroleum and Mineral Resources, Timor-Leste, has pointed out that developing countries cannot ignore their oil and gas resources in the face of great development needs. The compromise they make is to try to integrate clean energy in their energy mixes while working to decarbonise their oil and gas operations.

Speaking at the ADIPEC 2023 ‘Ministerial Panel: The road to COP28: sustainability and an equitable transition’, he said: "Countries like ours, where the development need is so great and the only resources we have to use for the development is oil and gas, then we have to develop that somehow. Of course, in Timor Leste, we are mindful of the energy transition and try to introduce other sources of energy in the mix, but at the same time, even in the oil and gas sector, we are introducing ways and mechanisms to reduce the next effects of carbon, such as carbon capture and storage”.

Interesting post from an Aussie Finance professor on LinkedIn. Beginning to wonder if big financial assistance from the Middle East could be on its way to TL.

“Thanks to colleagues from the Abu Dhabi Investment Authority (ADIA), Emirates Investment Authority, Abu Dhabi Investment Council, and Mubadala for the warm welcome to the Investment Advisory Board of the Petroleum Fund of Timor Leste this week in Abu Dhabi, UAE. We also appreciated the excellent presentations from Schroders, State Street Global Advisors, and Franklin Templeton to our Workshop.

[Mubadala Investment Company — a sovereign investor — manages a diverse portfolio of assets valued at $284 billion. and investments in the United Arab Emirates and abroad, to generate sustainable financial returns for its shareholder, the Government of Abu Dhabi].

https://www.linkedin.com/posts/activity-7116121394156883968-NyFF?utm_source=share&utm_medium=member_ios

DILI, 03 Outubru 2023

The United Arab Government will support the Government of Timor-Leste in the exploration of Timor-Leste's gas to strengthen the two-way bilateral cooperation.

"In this context it is also possible to sign two agreements in order to open the door to become a basis for further exploring the potential for cooperation in the areas of oil, gas, and Infrastructure," said the United Arab Ambassador.

https://youtu.be/aNIHYYG17tE?si=9KLIdbJwMn5uuOhx

New Chinese Ambassador to Timor-Leste.

On 1 Oct, Ambassador Wang Wenli arrived in Timor-Leste to assume her new office. Wang was previously serving as China's Consul General in St Petersburg.

POSSIBILITY OF MINING AND GAS INVESTMENT FROM CHINA

Presidential Palace Nicolau Lobato, Dili, September 29, 2023

The President of the Republic, José Ramos-Horta, today received a delegation from the Federation of Industry and Commerce “All China” and the China Petroleum Industry Chamber of Commerce.

The presence of the two institutions in Timor-Leste is to see the potential of natural resources, especially mining and gas, and to meet with competent institutions in these areas in the nation, to see the possibility of future investment.

In a meeting with the Head of State, the delegation from the two institutions presented the possibility of investment that they could make and how cooperation between the two nations in the mining and gas area.

President José Ramos-Horta, at this meeting, expressed his gratitude to the Federation of Industry and Commerce “All China” and the China Petroleum Industry Chamber of Commerce, who wanted to come to see the possibility of making an investment in Timor-Leste.

Simply Wall St very comfortable with Boil’s cash position.

https://finance.yahoo.com/news/heres-why-were-not-too-061149778.html

Steve McBride

Strategic Business Development Leader

Despite such a busy period after the establishment of a new Govt in Timor-Leste, highly appreciative to be afforded meetings with the new, Minister of Petroleum and Minerals, H.E. Francisco da Costa Monteiro and the new President of Timor Gap, Mr Rui Soares.

Aptly, both are alumni of the Australian School of Petroleum and very conversant with Society of Petroleum Engineers International. Delighted that they are both extremely positive towards SPE Western Australia initiatives supporting #timorleste #students in #petroleumengineering and #geologicalsciences.

One of the objectives to which we aspire is that some of our #nextgen SPE Timor-Leste student members will play pivotal roles in planned future development projects including of course Greater Sunrise with TIMOR GAP, E.P. , Woodside Energy and Osaka Gas Co., Ltd.

https://www.linkedin.com/feed/update/urn:li:activity:7112714373176979456?updateEntityUrn=urn%3Ali%3Afs_feedUpdate%3A%28V2%2Curn%3Ali%3Aactivity%3A7112714373176979456%29

PRESIDENT OF THE REPUBLIC MEETS WITH GROUP OF COMPANIES FROM MALAYSIA

Presidential Palace, Nicolau Lobato, Dili, September 27, 2023

The President of the Republic, José Ramos-Horta, today met with the Quam Plus International Financial Group from Malaysia at the Presidential Palace. The objective of the meeting was to discuss ways to strengthen relations between the two countries, especially in the area of business investment from Malaysia to Timor-Leste.

The group's representative, Tian Chua, said that they were also presenting a report on the progress and achievements of the investment plan to the President of the Republic. "We have been here in Timor-Leste for several months to assess the potential in Timor-Leste," the group's representative told the press after the meeting with the Head of State.

He added that they came with plans to bring investors in several sectors, such as training in specific new skills to be able to work and serve investors who come to invest in the health sector to build an international-quality hospital like the ones in Malaysia. And in the agriculture sector, to reduce food imports, especially by building livestock centers. They are also interested in investing in the mining sector and others.

The Head of State said that the Timorese state government related will closely follow up on the commitments made in the plans that they have presented in their report. These investments also show Malaysia's commitment and support to Timor-Leste on its path to ASEAN in 2025.

https://m.facebook.com/story.php?story_fbid=pfbid02FTCJPZaHAoBaQBaReXNPENSRzu2WRoLyk74cEfdjJayPinyC4Uph5RZ16aMCpAtGl&id=100088342724887

Has East Timor turned to China while disappointed with Australia?

China and East Timor (Timor-Leste) have improved their relations to a “comprehensive #strategic partnership” that potentially paving way #Beijing more access to the 20-year old #Pacific nation’s #sources, especially #energy.

Under the #China-proposed Belt and Road Initiative, the countries agreed to strengthen #energypolicy exchange and possibilities of exploration for #oil and #gas.

East Timor is losing its vital source of #income generated from Bayu-Undan gas field and 3.7 MMT/Y Darwin #LNG plant in #Australia. The operator Santos has confirmed that the field approaches end of life and its #gasproduction is expected to cease in the second half of this year.

Production stoppage of Bayu-Undan gas field which contributes about 85% of Timor’s #budget while its Sunrise gas development project has also been stalled for years, will cause a big challenge for the poor country’s #government that was struggling to find new #financialsources to run the country, Mostafa Sharif, Gas Market Senior Advisor had reminded earlier.

(more: https://lnkd.in/eiU-ayhN)

The Greater Sunrise field’s shareholders are #EastTimor’s government (Timor GAP) 56.56%, Woodside Energy (operator) 33.44%, Osaka Gas 10.00%.

 

The Sunrise development, located approximately 450 km north-west of Darwin and 150 km south of Timor-Leste, comprises the Sunrise and Troubadour gas and condensate fields. The fields contain an estimated contingent resource (2C) 5.3 TCF of dry gas and 226 MMbbl of #condensate (100%).

Development of Sunrise gas field at the earliest time is pivotal for East Timor; however this has not been in the Woodside’s priority projects list.

The East Timor government was looking for develop the untapped oil and gas reserves and particularly long-delayed Sunrise and build a land-based gas #processing and #liquefaction facilities at Tasi Mane.

Last year, East Timor President Jose Ramos-Horta said that #Indonesia, South Korea, #Japan and China could all be interested in investing in the Sunrise development as #piping gas from the field to be processed in its on-shore can be done economically and would be much cheaper to run than if the gas were #piped to Darwin in Australia.

"Our independent studies confirm the #technical and #economic viability for the pipeline to be built to the south coast of Timor-Leste.”

However, it is clear that the Woodside-led Sunrise partners are not aligned regarding the #pipeline delivery point and differences have not been resolved yet.

Ramos-Horta had treated that his nation could seek to attract Chinese #investors if partners in the Sunrise project do not back piping the gas to the Island’s shores.

Follow Global LNG Info on LinkedIn at https://lnkd.in/e442DdDn

Source: Global LNG Database® (https://lnkd.in/dSG73cW), Reuters

Whoops

https://amp.abc.net.au/article/102893938

What does the deal mean for Australia?

Good analysis here from ABC.

Deal announced this morning.

China and Timor Leste form strategic partnership, upgrading its' bilateral ties - ABC News