Timor-Leste wants Portuguese-speaking consortium for oil exploration

25 June 2015

The government of Timor-Leste (East Timor) has re-stated its wish for a consortium of companies from Portuguese-speaking countries to prospect for onshore oil resources in Timor-Leste, according to statements from the Oil and Natural Resources Minister.

Minister Alfredo Pires told Angolan news agency Angop on the sidelines of the First Energy Conference for the Development of the CPLP, which opened Wednesday in Lisbon, noted the importance of this “unprecedented” idea, which aims to “drive joint efforts of Member States for onshore oil exploration in Timor-Leste” and “consolidate the economic and business relationship” between the Portuguese-speaking countries.

Pires said that creation of an oil exploration consortium with the state-owned oil companies of the Community of Portuguese Speaking Countries (CPLP) had been called on by the Timorese Prime Minister Xanana Gusmão, and supported by the country’s President, Taur Matan Ruak and is expected to come to fruition during the Timorese presidency of the CPLP.

Gathered at the first meeting of Ministers of CPLP Energy, the CPLP Energy ministers called for the development of the sector in a “sustainable and inclusive manner, to improve energy security and ensure access to a minimum level of sustainable energy services in rural and urban areas.”

They also decided “to promote partnerships and investments in the energy area, between institutional and economic agents of the CPLP” and “identify priority areas for a cooperation strategy, to contribute to the diversification of energy sources and reduction of greenhouse gas emissions.” (macauhub/PT/TL)