Dili, October 30th, 2019: His Excellency Prime Minister Taur Matan Ruak, gave an audience on Wednesday, at Government Palace, Dili, the representative of President of ConocoPhillips – Western Australia, Mile Nazroo, accompanied by his representative in Dili, José Lobato, and the representative of the oil company Santos Limited.
At this audience, the President of Conoco-Phillips introduced Santos Limited to the Head of Government. This company will replace the oil activities of ConocoPhillips in the Bayu-Undan field since it has already acquired the interests of ConocoPhillips.
The Prime Minister, who received this change in a positive way, welcomed Santos Limited and took the opportunity to thank the oil exploration activities services of ConocoPhillips in Timor-Leste, while held contracts with the country. The Head of Government also took the opportunity to express his respect and consideration for the decision of ConocoPhillips to sell the shares of its interest to the Santos Limited company.
Meanwhile, the representative of Santos Limited, who is visiting Timor-Leste for the first time, assured the Head of Government that the company will continue the exploration activities in the Bayu-Undan field, under the existing contract, in order to benefit Timor-Leste and the company itself.
The representative of Santos Limited also invited the Head of Government to visit the company’s base in Queensland, to observe its activities closely.
ConocoPhillips confirmed, on last October 13th, the sale of its business in North Australia to the oil company Santos Limited. This business includes the Bayu-Undan field and the offices in Perth, Darwin, and Dili.
Upon completion of this transaction in the first quarter of 2020, ConocoPhilips will leave Timor-Leste and will be replaced by Santos Limited.
In addition to meeting with Head of Government, the company representatives also met the State Minister of the Presidency of the Council of Ministers and the Oil and Minerals Minister, Agio Pereira, to give him information about the same matter. END