ANP to play hardball

TIMOR-Leste’s regulator, Autoridade Nacional do Petroleo, has declined a request by Oilex and its partners to relinquish the JPDA 06-103 production sharing agreement (PSC) in the Joint Petroleum Development Area between East Timor and Australia, and instead it will play hardball and terminate the PSC for non-performance.

Oilex (10% and operator) and its partners, including takeover target Pan Pacific Petroleum (15%), submitted a request to the ANP back in 2013 after two unsuccessful wells.

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