Timor-Leste Petroleum Fund
Country: East Timor
Established: 2005
US$ Billion: 2
Origin: Oil, gas
Transparency Rating: 7
Summary:
Timor-Leste’s government announced the inception of the Timor-Leste Petroleum Fund in August of 2005. The Minister of Planning and Finance of the Government of Timor-Leste, is responsible for managing the fund. The Minister of Planning and Finance, however, signed an agreement with the Banking and Payment Authority to also take responsibility of the fund.
By late 2006, the Timor-Leste Petroleum Fund had reached U.S. $1,011,763,807. Due to the Bayu-Undan project, which yielded an estimated 25-year field life of wet gas, profitability increased. By the end of 2007, the fund’s balance was slightly over U.S. $2 billion.
News and Updates
2/08/2008
Location
BANKING AND PAYMENTS
AUTHORITY OF TIMOR-LESTE
Avenida Bispo Medeiros
P.O.BOX 59 - DILI
TIMOR-LESTE
info@bancocentral.tl
Website
Banking and Payment Authority of Timor-Leste
1. All figures quoted are from official sources, or, where the institutions concerned do not issue statistics of their holdings, from other publicly available sources.
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