Timor Leste Rank as 56th World’s Oil Production (Timor Leste Terkini 2009)

Timor Leste Terkini 2009

by: Ir.Eng.Luis Pereira

As of current report Timor Leste is ranked in 56th of the World’s Oil production with 78,480 Barrel oil per day (Estimated) followed by France and Pakistan of 57th and 58th, respectively.

However, the data for gas isn’t available yet, But as of our current oil production at 78,480 bopd with an estimated current crude oil price at 72 dollar/barrel, so the the amount of sale of the oil alone will be $ 5,650,560 / day.

Certainly, the production will increase in few years to come as new fields in JPDA are expected to be developed, drilled and explored.

Even though we are rank in 56th world’s oil production but due to the size of our country and the population we will still enjoy with steady economic growth in at least 2 decades, after two decades probably the oil price won’t be interested due to the new technologies for the renewable energy source e.g. Solar, bio-diesel, wind and water.

So the question, is will our government has capable to manage this resource and use the revenues that we claimed from this resource and turn it to other form of the feasible market that can be lasted for longer period!!. The answer is uncertainly.

PS: Timor Leste Terkini 2009..lebih maju dan ada banyak perubahaan…

God Bless Timor Leste…