Member Info for passiton

SURVEY CAMPAIGN UPDATE August 3, 2023 – Timor GAP President & CEO visited Metinaro Site Survey to observe the survey operation progress from its contractor, Mahakarya Geo Survey (MGS), from Indonesia. The onshore geotechnical survey activity is approximately 80% complete and the full analogue offshore geophysical survey is approximately 60% complete. In parallel with the onshore geotechnical and offshore geophysical activities, MGS has also commenced the pontoon fabrication activity (floating platform for offshore geotechnical operation) in Metinaro to support offshore geotechnical survey. There are 2 pontoons to be built and deployed for the offshore activity. The 1st pontoon for the offshore geotechnical borehole and the 2nd pontoon for the offshore seabed CPTu are planned to be deployed on 15th August 2023. MGS will completely execute both onshore and offshore field survey by the end of September 2023, and provide the survey reports and analysis to TIMOR GAP in order to allow TIMOR GAP to finalize the FEED design study for the Petroleum Import Terminal (PIT) project.

Https://www.linkedin.com/posts/anpm-timor-leste_exploration-discovery-explorationdrilling-activity-7131186933048754177-TNbG

Looking like the Timor Resources (Aus) ONSHORE drilling has actually found something, after decades of on Island seeps (small) being drained and other exploration, failing to find a sweet spot, it might all originate from. 🤔

Is this why the demon duo have been more upbeat recently, some potential Oil revenues , onshore Betano Oil refinery set to provide funds for the other half of the Tasi Mane puzzle Beaco Gas/LNG, OR its required contributions to future IMF and World bank, other sector development payments, which have strings attached, based on not over borrowing from the Island Fund. 🤔

FID , announced as by end of 2023, around the time we extended our drill or drop decision for Chuditch from summer 2023 to 18th December. Two studies initiated should be completed now/soon, according to those who were selected for them, one had 10 months to complete in Jan (November) the other expected 6-8 months of work (already done ?)

The bigger one being

Mahakarya Geo Survey have sealed a contract with Timor Gap E.P. to conduct Metinaro Survey Campaign project. The signing was attended by the Managing Director of Downstream Business Unit TIMOR GAP E.P., Francelino Boavida and his delegations at MGS office in Jakarta. This project consists of 5 activities—ranging from Topographic & Aerial Mapping, Onshore Geotechnical, Nearshore Geophysical, Offshore Geotechnical, to Metocean Survey in Metinaro for Oil Terminal Port development.🤔

Still hoping our FPSO plan will get the first ever YES to something other than wait for Beaco to be built Benny, its ideally suited to TL's own plans for domestic fuel security by 2025/26, if we go ahead with 2024 drill as planned, a new owner, sale or JV can get it done a lot quicker and easily supply Metinaro Gas/LNG Imports fac and 90 day tank farm, long before Beaco Gas/LNG Exports fac's ( Oct tenders had for 2030) 🤔

🤣 Just add it to the other hundred false starts, Boil and the Island have given us in the past 4 years🙄

The fuss was that a meeting had been held, the minutes had not been published and it was a weekend first extra meeting, the routine cabinet CoM is Wednesdays, this was additional on a weekend, why the rush ? as posted probably to do with ASEAN and WTO preps for full membership early 2024.

Timing had the interest peaked, Filthylucre (yesterday) posted some Facebook stuff, the head cheese of the state China Gas company was in the house , with some promising comments, we were hoping the Extraordinary meeting was called as follow up, sadly not the case.........our wait continues. 🙄

Its to do with many things, earlier poster only had the first section, of the first subject, probably more to do with getting their house in order for the upcoming memberships to both ASEAN and the WTO, both expected confirmed Q1 2024, already have a sit in guest membership of Asean, think that is set for February, once done Australia have said will sponsor and push for TL WTO membership. 🤔

Although section 3 has a nice ring to it - National Industry Development Policy 😉

November 18, 2023

Extraordinary Meeting of the Council of Ministers on November 18, 2023

Approved:

1 - Registration of Vessels and Ships;

2 - Ship Technical Inspection Service;

3 - National Industry Development Policy;

4 - Industry Bases;

5 - Industrial Licensing;

6 - Sectoral Licensing of Commercial Activities;

7 - General Legal Regime for Electronic Commerce and Electronic Signatures.

Can't count 7

http://timor-leste.gov.tl/?cat=10&lang=pt

And the answer is NO 😂 text back same 6 sections/subjects as before. 🙄

Hold the bus, file now BLANK again, is more being added ???

http://timor-leste.gov.tl/?p=35120&lang=pt

Couple in it that are generic and might apply to future building and investment into TL

Decree-Law that defines the Bases of Industry . This diploma represents a regulatory framework guiding the concrete political and administrative actions to be developed by the Government in the field of industrial activity. It establishes a systematized body of rules and principles, as well as the legal basis that ensures the essential conditions for the development of this activity, from a global and integrated perspective, and that encourages the private sector to invest. In fact, this diploma provides, among others, a set of rules, conditions and incentives for the exercise of industrial activity, as well as sectoral licensing and administrative offense regimes, the definition and procedures of which are relegated to complementary legislation. This diploma is also intended to align Timor-Leste's legal and regulatory framework with international standards, in order to facilitate the ongoing accession processes to ASEAN and the World Trade Organization, thus increasing accessibility to the market external.

Some other stuff on best practices and Industrial health and safety

Build either of the buggers , with Gusmao's jobs for the Timorese not foreigners and some insurance in place for his workforce.

back to snooze and see if anything turns up next week , next CoM Wednesday , or perhaps Yeo ho ho will deign to give us an update, on his and AB's recent visit and chat/other events (Boil nice pr stuff in an RNA 😂🤣😂😂) Laters.......

Lot more than that snippet but nothing to float our Boat 🙄

😅😂🤣 why was that an emergency ffs

Who knows Doug, could be anything but not a great believer in coincidence and Filthy's find yesterday on the Chinese Gas departments visit to the Island and appear to be , in the game.

Only othe Emergency Meetings , I can ever recall BUT again all during the week, for COVID and after a major tropical storm causing havoc. 🤔

just had a s***** on the minefield that is the l.h. website, like finding a needle in etc, will have another look later, unless you happened to save the links? but do remember those 3 years 2024/25/26 all 2 to 3 billion each, falling back to pretty sure it was around 700m in 2027.

this years 23/24 budget recently cut again to 1.7 billion in total, to preserve the spwf. those 3 years dept p&i all much higher, looks like that mou will be delivering the development funding required.🤔

Could be something , could be zip but we do know from Filthy's posts, the Chinese have made a first move, the gas department made a visit, with promising rhetoric on investment in TL, we also know the Gas/LNG Import fac's at Metinaro has Final Investment FID , labelled for by end of 2023.

We also know from those budget items you (Dougb) came across last year, proposed department of planning and infrastructure budget for the next 3 years , each higher than the current island TOTAL annual budget (is that to fund Metinaro PIT)

The MOU signed by the CoM meeting a few days before the Gusmao China visit, was with said department of planning and infrastructure (Beaco and Metinaro under them)

Island announced this coming year budget cut again, so where is that massive extra funding projected for the Dept P & I coming from (Chinese investment or depleting the Sovereign P Fund ?) 🤔

All crossed with ribbons and bows, something that bolsters Filthy's find yesterday, first time I have ever seen a CoM meeting on a weekend, no minutes published yet, usually land in Tetum or Portuguese first during our afternoon.🤞🤞🤞

http://timor-leste.gov.tl/?p=35120&lang=en

Filthy great stuff on the Chinese, now giving a solid commitment, like that line about ""properly assess the situation and comply with the government's policy.""

We know they have two, they want Beaco and they want Metinaro, now who's up for a Chinese takeaway, at the "Right Price" , CNOOC, China National Offshore Oil Company , come in No1 , your time is up 🤔😅😅

Koreans were already in Bayu, JV on the now ended production them Santos and ENI, all still together for the switch from production to carbon capture. Think they now also own the pipe in place, Conoco Philips remained owner for most of the production years, they built it when Bayu original maj owner operator, leased to the new consortium, think the Koreans also got a large percentage of the Darwin refinery, which Santos and ENI want to resupply with Barossa and Evans Shoal, via a new input HUB pipeline. 🤔