24 December 2015

Extraordinary meeting of the East Timor Council of Ministers of 14 December 2015

ETLJB 24/12/2015 Government of East Timor Media Release Dili - The Council of Ministers met extraordinarily this Monday, December 14th, 2015, in the meeting room of the Council of Ministers, at the Government Palace in Dili, and approved:

1. The Government’s Resolution on the participation of TIMOR GAP, E.P. in oil operations in the exclusive area of Timor-Leste This diploma authorises TIMOR GAP, E.P. to participate in production sharing contracts for the onshore and offshore blocks of Timor-Leste’s Exclusive Area, with the objective of decreasing the geological risk and to improve knowledge on the potential of existing hydrocarbons.

Currently, Timor-Leste has only projects in the JPDA – Joint Petroleum Development Area. It becomes necessary, therefore, to deepen the knowledge of existing resources in the Exclusive Area, through the promotion of activities of prospecting and research, which includes the implementation of studies in the areas considered relevant. The results will have a relevant role in the attraction of the required investment by international oil companies in the area under the exclusive jurisdiction of Timor-Leste.

2. The Government Decree on the payment supplements to officials attached to the process
of the General State Budget for 2016 and closing of the State Accounts for 2015

The preparation of the General State Budget for 2016 and closing of the financial year of 2015 led to an increase in the volume of work which exceeded the hourly amount provided for by law, including 40 overtime hours per month. Therefore, and in accordance with the policy of recognition for the professional dedication and incentive to employees who, in the framework of these proceedings, distinguished themselves with exemplary fulfilment of their obligations with high degree of efficiency, innovation and professional merit, the Government approved the payment of a supplement to these officials.-ENDS-

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