Permits – Blocks A & C (PSC TL OT 17 08 and PSC TL OT 17 09)
Timor Resources has acquired the two most prospective coastal blocks A and C under two Production Sharing Contracts (“PSC”) with Autoridade Nacional do Petróleo e Minerais (ANPM) which is the Government authority for Timor-Leste. Timor Resources enters this area with Joint Venture partner Timor Gap which is the National Oil Company of Timor-Leste.
- Large acreage – 2000 square kilometres (200,000 hectares).
- 30 oil and 7 gas seeps to surface have been identified.
- Multiple oil discoveries and oil flows.
- Timor Resources is Operator of license areas PSC-1708 and PSC-1709.
- Two newly acquired 2D seismic surveys underpin the current view of prospectivity (the first modern seismic data in 25 years in onshore Timor-Leste).
- Multiple targets and play types have been identified and drill-ready candidates have been identified.
- Potential for significant discoveries.
- Attractive fiscal regime.
- Bi-lateral Government support.
Suai Loro-1 wellhead. Oil can be bailed from the pipe.
Matai natural oil seep (2003)
Matai surface oil seep (2016)
Pipe with plaque marking the Suai-2A wellhead.
Pipe marking Tafara East-1, originally onshore but now offshore.
Two of approximately twenty gas seeps on the Bazol Anticline, immediately north.
Explorer’s efforts in modern history have solely focused on the offshore of Timor-Leste resulting in success with the Bayu-Undan and Kitan fields. The onshore hydrocarbon potential has remained untapped. The last well drilled in onshore Timor-Leste was drilled in 1972.
Since the award of the two exploration permits (Blocks A and C) in 2016, Timor Resources have successfully acquired two new 2D seismic surveys (2018 and 2019) across both blocks that has allowed for a paradigm shift in the imaging of the subsurface and understanding of the prospectivity of the petroleum potential of onshore Timor-Leste.
Significant oil potential has been identified across multiple prospects and leads in onshore Blocks A & C, many of which have been high-graded to drillable status.
Timor-Leste is a sovereign state in Southeast Asia and covers an area of approximately 15,000km2
The nation is currently undergoing a period of rapid development, predominantly funded by revenue generated by the Santos-operated Bayu-Undan gas and condensate field, which has provided around $24 billion to the country over the past 12 years.
The oil and gas potential of Timor-Leste has long been recognised but has remained largely untapped and under explored for the last forty years due to geopolitical issues. This is the first time in more than 40 years that onshore Timor-Leste has opened its doors to petroleum investment in search of the next major global oil discovery.
Matai-1A wellhead. Plastic bottle contains oil collected from the well.
Onshore Timor-Leste contains large structures with associated oil and gas seeps, which have the potential to hold significant hydrocarbon accumulations
The onshore hydrocarbon potential of Timor-Leste is significant. Numerous oil and gas seeps were known to locals who expanded these to “oil pits” from which considerable oil was recovered. This attracted activity from international companies, and between 1910 and 1973 a number of wells were drilled, resulting in oil recoveries and completion of three wells, from which oil can still be recovered. Recent geological work has identified a number of structural and stratigraphic traps, with estimates of potential size sufficient to host significant hydrocarbon accumulations. Many of these structures have surface expression and are associated with oil and gas seeps.
Cota Taçi-1 wellhead. The well can deliver oil at pressure, and has been collected by locals for use.
Timor-Leste is in a period of rapid infrastructure development including the Tasi Mane project, which involves the development of three economic hubs over 155 km of the southern coast of Timor-Leste. This project includes the Suai and Betano Clusters that overlap Block A and C.
The Tasi Mane projects are a multi-year development of three economic clusters which the Government has committed to and are constructing on the South Coast of Timor-Leste, which will form the backbone of the Timor-Leste petroleum Industry.
The projects include construction and operation of a refinery, petrochemical plant, LNG plant, a highway linking the economic clusters and a network of gasoline stations to ensure high quality fuel distribution across Timor-Leste. The projects will support commercial onshore discoveries and the development of the offshore Woodside-operated Greater Sunrise fields.
The objective of the Tasi-Mane projects is to enable petroleum and energy development within Timor-Leste, providing a direct economic dividend from the petroleum industry activities to the country. Without these value adding projects, the country would be limited to the royalties and taxes of the existing offshore operations only.
Tasi Mane -South Coast Timor-Leste.
Proposed Tasi Mane petroleum corridor project
- Suai economic cluster: Logistics supply base to support all offshore oil and gas activities in the Timor-Leste Exclusive Area (“TLEA”)
- Betano economic cluster: An industrial park with a planned 30 kboe/d capacity refinery. The cluster will be developed over 6-9 years and will provide domestic fuel such as diesel, gasoline, jet fuel and LPG.
- Beaço economic cluster: A natural gas pipeline from the Timor Sea will reach land at Beaço where an LNG plant will be constructed to process the gas. This cluster will incorporate a marine supply harbour to cater to both LNG and LPG carriers.
Timor is currently heavily dependent on imports of refined oil products including gasoline, jet fuel, diesel and kerosene.
The Timorese Government is eager to extend its successful offshore oil production activities to onshore, and is supporting activity in this area through a range of onshore initiatives to promote domestic hydrocarbon production, domestic retail distribution, and surplus for export.
Timor Gap has a mandate to implement the ‘Tasi Mane’ project – a three-cluster development project to support onshore hydrocarbon production through construction and operation of a refinery, petrochemical plant, LNG plant and a network of petrol stations to ensure high quality fuel distribution across Timor-Leste.
Onshore petroleum development is considered a Project of National Significant, with bipartisan support from the Government of Timor-Leste.