Setting Up a National Oil Company in Timor-Leste
The government of Timor-Leste plans to create a national oil company in keeping with international best practice. In May 2009 it invited a number of national oil company representatives to tell their story, detailing lessons learned from previous challenges. Participants included a wide-ranging selection of stakeholders of Timor-Leste's petroleum sector. State participants included representatives from the State Secretariat for Natural Resources, the regulator ANP, the Ministry of Finance, the National Directorate of Petroleum Revenues (NDPR), District Administrators, Members of Parliament, and KKFP (Petroleum Fund Consultative Council). From the private sector participants included the bank ANZ. Civil society participants included Lao Hamutuk, Minza, CUNDTL, the Church and Luta Hamutuk. Advisors from the Norwegian Agency for Development Co-operation (NORAD), the UN Mission in Timor-Leste (UNMIT) and the World Bank also participated.
Experts from Chatham House's project on Good Governance of the National Petroleum Sector facilitated the discussion, drawing out relevant applications for Timor-Leste from the varied national and corporate experiences. The workshop was held in Dili thanks to funding from NORAD.