Government of Timor-Leste
Secretariat of State for Natural Resources
Media Release
April 23, 2010
Díli, Timor-Leste
Field Development Plan of Kitan Oilfield Approved
The Field Development Plan of Eni and its joint venture partners for the Kitan oilfield was approved on 22nd April 2010 by Timor– Leste’s National Petroleum Authority (ANP). The Government of Timor– Leste, as the major stakeholder in the project, has welcomed this milestone. The project will see first oil come on stream by the end of 2011 for a field that contains an estimated 34.5 million barrels of recoverable oil.
Eni SpA is Italy’s largest energy company and one of Europe’s biggest oil producers. The company has affirmed that this approval strengthens Eni’s presence and growth potential in the Timor Sea, which is thought to be an area with strong future potential.” The Kitan Oilfied is approximately 250 kilometers south of Timor– Leste and 500 kilometers north of Darwin in the Joint Petroleum Development Area.
Timor– Leste Secretary of State for Natural Resources, His Excellency Alfredo Pires, congratulated Eni and its partners on their diligence in preparing the project thoroughly in a very short period of time. He commended the very proactive and cooperative approach of Eni and its joint venture partners to work in concord with the aspirations of the people of Timor– Leste.”
Eni’s official release confirms they are committed to maximizing the direct economic participation of Timor– Leste in the Kitan Project, through the use of Timorese goods, services and labor and will continue to work with the Timorese Government on a range of social and economic development initiatives working towards the growth of the country.”
Pires said the relatively short time from the exploration to the approval of the Kitan Oilfield confirms that the Joint Petroleum Development Area is a very attractive petroleum province for oil and gas explorations. The approval of the plan is a testimony to the effectiveness of the decision making process when there is an alignment of interests (the in principle agreement’) between the commercial entities and the Governments, both working with a spirit of diligence and cooperation”.
The Secretary of State noted the approval is another stepping stone in the development of Timor– Leste’s onshore petroleum industry. He emphasized my office is committed to support the project with its very progressive plan for local employment and local participation in the supply of goods and services. The infrastructure planned on the south coast and in particular the Supply Base designated for Suai will support this project and others going forward, and now that the Field Development Plan has been approved the Government of Timor– Leste will expedite its work on the base.”
He commended the work of the National Petroleum Authority as the regulator of the JPDA for its professionalism in administering the field to the expectation of the Government”.
ENDS
For More Information Please Contact:
Francisco da Costa Monteiro
+67 0 7357 240
dang nice stuff man.