Malaysian business delegation in contact with the oil sector of Timor-Leste

12 August 2015

A delegation of about 15 Malaysian companies Wednesday began a three-day visit to Timor-Leste (East Timor) during which it will meet with Timorese officials responsible for analysing potential business and investment opportunities.

The visit will focus on the oil sector and is provided for meetings with officials of oil company Timor Gap, and the Oil and Mineral Resources Minister, Alfredo Pires.

Coordinated by the Trade Office of Malaysia in Jakarta, the visit aims, officials in Timor-Leste said, to examine in detail aspects and opportunities of the Tasi Mane, project in the south of Timor-Leste.

Meetings have been planned with Timorese officials from the business and development, exploration and production unit and new projects, as well as various government agencies.

One component of the project that currently offers more opportunities is the construction of the Suai support base, which is essential for oil exploration activities in the Timor Sea.

Last June South Korea’s Hyundai Engineering & Construction was awarded a contract worth US$719.21 million for the design and construction of this base, with ample opportunities in other areas of the project.

The Suai Logistics Base is one of the central elements of Tasi Mane, a multi-year project that also includes the Betano refinery, a liquefied natural gas (LNG) processing plant, the port and airport of Suai, the pipeline to the Greater Sunrise oil field and Suai/Beacu highway. (macauhub/TL)