Timor-Leste

As we approach half-way through 2010, it is proving to be as momentous for the EITI as expected. Although most of the 22 first EITI countries did not complete the validation of their EITI processes by their deadlines, eyes are now turned towards those granted short extensions to complete by September. Countries’ efforts to meet the deadlines have led to an unprecedented level of activity to improve transparency in the extractives sector. In the past 12 months, 18 countries have produced EITI Reports. File:  EITI-Newsletter-2010-July.pdf

Compliant country Hidden:  Not Hidden Overview of Extractive Industries 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 6 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 Compliant country on 1 July 2010. The final Validation Report is available here. Timor Leste must be revalidated by 30 June 2015. Stakeholders in the process may request that the EITI Board requires a new Validation at any time within that period if they think the process needs reviewing. Timor Leste's first EITI Report was issued on 21 December 2009. The first report covers financial data for 2008.    25 February 2010 Timor Leste applied to extend their deadline for completing EITI Validation. The EITI Board agreed to grant Timor Leste an extension. Peter Eigen sent a letter to the President conveying the Board's decision. Timor Leste has until 9 September 2010 to submit a final Validation report to the EITI Board. The final validation report was approved by the Timor Leste EITI Working Group on 6 April 2010. Governance of EITI Implementation 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. Hon. Alfredo Pires has been appointed as the “Government Focal Point” for the EITI. The EITI coordinator, Ms Elda Guterres da Silva guides implementation on a day-to-day basis. The NGO La'o Hamutuk (The Timor-Leste Institute for Development Monitoring and Analysis) has an EITI wep-page here. Timor-Leste EITI Focal Point Ms Elda Guterres da SilvaEITI National CoordinatorE-Mail: vanozela [at] yahoo [dot] com Companies operating* Oil & gas companies: ConocoPhilips*, Inpex (Japan), Petronas, Eni*, Woodside* * Note: Company list based on EITI research and is not conclusive For further information contact Sam Bartlett at the EITI International Secretariat.