INPEX Corporation expresses interest in investing in Timor-Leste's oil and gas sector
INPEX, Japan's largest oil and gas exploration and production company, has expressed its interest in investing in the oil and gas sector in Timor-Leste. This expression of interest took place during a meeting with the Prime Minister, Kay Rala Xanana Gusmão, at The Okura Tokyo Hotel in the Japanese capital on December 15, 2023. The Vice Prime Minister, Coordinating Minister of Economic Affairs and Minister of Tourism and Environment, Francisco Kalbuadi Lay, the Vice Minister for ASEAN Affairs, Milena Maria da Costa Rangel, and Timor-Leste's Ambassador to Japan, Ilidio da Costa Ximenes, accompanied the Prime Minister at this meeting.
INPEX Corporation is a Japanese company with extensive experience in developing the oil industry in Japan, with investments in the energy sector in several countries.
The President of INPEX Corporation, Takayuki Ueda, expressed his gratitude and privilege for the meeting with Prime Minister Xanana Gusmão and his team and for the opportunity to discuss investment possibilities in Timor-Leste.
Prime Minister Kay Rala Xanana Gusmão invited INPEX Corporation to visit Timor-Leste to learn about the country and assess investment opportunities in the oil and gas sector.
During the meeting, the Greater Sunrise development plan was discussed, in which the State of Timor-Leste, represented by Timor GAP, E.P., holds a majority stake of 56.56 per cent, followed by Woodside (operator) with 33.44 per cent and Osaka Gas with 10 per cent.
