PRESS RELEASE
Dili, 12 September 2025
The Autoridade Nacional do Petróleo (ANP) of Timor-Leste is pleased to announce the signing of the Deed of Assignment and Assumption for State Participation in Petroleum Operations under Production Sharing Contract for Contract Area PSC-TL-OT-22-22.
The ANP, acting on behalf of the Ministry of Petroleum and Mineral Resources, on Friday 12th September 2025, signed the above-mentioned Deed with HTS Exploration Ltd, R.P. (Representação Permanente) (HTS), a company registered under the laws of the Democratic Republic of Timor–Leste, and the TIMOR GAP PSC TL-OT-22-22 Unipessoal, Limitada (TIMOR GAP), a subsidiary of the TIMOR GAP, E.P.
Under this Deed, and pursuant to the state participation right under Timor-Leste Law, TIMOR GAP is assigned a participating interest of equal to a Ten percent (10%) in the Production Sharing Contract of TL-OT-22-22.
The PSC TL-SO-22-22 was signed between the ANP and HTS on 7th March 2024. The contract area is formerly known as Block F, which is situated in Municipality Viqueque, onshore territory of Timor-Leste. This Block was among 18 Blocks that the government of Timor-Leste released through the Timor-Leste Second Licensing Round 2019/2022.
Under this PSC, HTS and its newly joined Joint Venture Partner, TIMOR GAP, are committed to an active work program including seismic and drilling activities.
This signing ceremony marked a significant milestone that paved a pathway towards a close collaboration between the Government of Timor-Leste and HTS for further exploration of oil and gas within the Timor-Leste’s jurisdictions and to promote development of the industry in the country.
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