Timor-Leste

Candidate country

Overview of Extractive Industries in Timor Leste

Over the next few decades, Timor-Leste is expected to accrue substantial revenues from oil and gas production. To date, production has come from a joint development area in the Timor Sea. Further onshore and offshore activity is expected. The World Bank estimates revenues in excess of USD 1 billion from FY05-09. As a petroleum-rich country, Timor-Leste needs to be particularly vigilant in maintaining good governance to avoid the resource curse prevalent in many resource-rich countries. The Government has adopted a legal framework for petroleum production, taxation, and revenue management that is considered international best-practice.

Status of EITI Implementation

Timor Leste was accepted as an EITI Candidate Country on 22 February 2008.

Timor Leste has until 9 March 2010 to undertake validation.

The first meeting of Timor-Leste's Multi-Stakeholder Working Group for the Extractive Industries Transparency Initiative (EITI) was held in Dili on May 15, 2007, bringing together representatives from relevant government agencies, civil society, and the petroleum industry. The multi-stakeholder working group has produced a costed workplan that is available online: http://www.timor-leste.gov.tl/EMRD/index.asp

Governance of EITI Implementation in Timor Leste

Hon. Jose Teixeira, Minister of Natural Resources, Minerals and Energy Policy, was selected by the Prime Minister to be the government official responsible for EITI. The Prime Minister also appointed Mr. Manuel de Lemos to be the EITI coordinator to guide implementation on a day-to-day basis.