Wine is one of the utmost popular drinks consumed worldwide. The escalating demand for wine, because of its unusual taste and health assistances is one of the key aspects boosting the growth of the global wine market. The global wine mar…
BMI View: The outlook on the Timorese upstream sector remains bearish, on account of projections for its
crude oil and natural gas production to steadily decline over the course of the next decade, amid a dearth of
exploration activities and natural declines at the Bayu-Undan. Falling oil production will drive a
comparable drop-off in its net crude oil exports, while rising demand increases the need for refined fuels
Latest Updates And Key Forecasts
- Timor-Leste's crude oil and natural gas production will both remain on a firm downtrend over the next
decade, as a slowdown in exploration in the Joint Petroleum Development Area (JPDA) and territorial
dispute over the highly prospective Greater Sunrise fields severely undermine the country's long-term
production growth potential.
- As of December 2015, Eni's Kitan field is no longer producing, having reached the end of its normal
operating life. ConocoPhillips' Bayu-Undan field remains the only active producing asset in the country.
- Crude oil net exports will decline throughout our forecast period, in line with falling production at the
Bayu-Undan. In contrast, the country's dependence on fuels imports will deepen over the coming years in
order to meet rising demand from the domestic power, transportation and residential sectors.