All of Timor Leste's oil and gas production is from the Bayu-Undan and Kitan fields located in the Joint Petroleum Development Area (JPDA) in the Timor Sea. Australia and Timor Leste jointly control and manage petroleum activities in the JPDA. Exploration is on-going in the Timor Leste Exclusive Area (TLEA) but there have not yet been any commercial discoveries. Further onshore activity is expected.
About 77% of Timor Leste's GDP in 2012 is from oil activities. All of Timor Leste's revenue from the oil sector - appx. US $3.8 billion in 2012 - is deposited in the Petroleum Fund, which amounted to US $16.6 billion in June 2014 (www.eiti.tl). The EITI Reports track how much of the Petroleum Fund is transfered annually to Timor Leste's budget.
Timor Leste published its 2012 EITI Report on 6 February 2015. The report is Timor Leste's first under the EITI Standard and as such includes considerably more information about the extractive sector, including production data, information about the legal framwork and licensing procedures. TL-EITI is now working on the 2013 EITI Report to be published later this year, which should improve the timeliness of EITI data. As some civil society organisations have pointed out, up-to-date information information is also available on government websites such as the National Petroleum Authorities and the Petroleum Fund website.