East Timor Government News

The East Timor government has awarded five offshore oil and gas contract areas to Italy's Eni SpA and one area to India's Reliance Industries Ltd through a tender, according to a report from Forbes. The government has reportedly offered 11 areas in the first offshore bidding round, which was ended on April 19, of which it received a total of nine bids for six areas. A statement said the commission has identified that bids from Eni SpA for contract areas A, B, C, E, and H, and a bid from Reliance for contract area K offer best conditions and advantages. Reliance also filed a bid for area E, while Petronas consortium put bids for area C and E, which were awarded to Eni.