To be a leading petroleum regulatory authority in the region & a model for institutional development in Timor-Leste.
COURAGE
Collaboration, Openness, Unity, Responsibility, Accountability, Global View, Excellence
Collaboration, Openness, Unity, Responsibility, Accountability, Global View, Excellence
The ANP is required to publish details of payments made to it under an Authorisation which includes a PSC. This legal obligation to PWYP is a significant step forward to achieving greater transparency and accountability.
Prior to the Timor Sea Treaty entering into force, petroleum revenues were shared equally between Timor-Leste and Australia. The table below reflects the prior revenue sharing arrangement as well as the respective 90/10 split of petroleum produced in the JPDA between Timor-Leste and Australia.
The table below highlights the reconciled aggregates of total company payments from the JPDA against total government receipts. The ANP receives revenues from the companies and subsequently distributes these revenues to the governments of Timor-Leste and Australia. The TSDA does not collect any tax revenue as this responsibility lies with the relevant tax authorities of Timor-Leste and Australia.
The link following the table provides the detail of payments received by the ANP to a project and a product level on a monthly basis rather than on a shipment basis. It differentiates between condensate revenue, liquefied petroleum gas or LPG revenue and liquefied natural gas or LNG revenue for the projects currently in production, namely EKKN and Bayu-Undan. The revenue includes both FTP and Profit Oil.
Note: The Maritime Boundary Treaty has been entered into force since 30 August 2019, however, ANPM was continued to distribute the 10% of the revenue received to the Australian government until November 2019 due to production entitlement prior to the Treaty into force.