The Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro, attended meetings and activities in Brussels, Belgium, from October 5th to 9th, 2026, as part of the Extractive Industries Transparency Initiative (EITI) Global Conference. He presented Timor-Leste’s experience in natural resource management and announced new commitments to strengthen transparency in the petroleum and mineral sectors.
The 10th EITI Global Conference, held on October 8th and 9th under the theme “Transparency for Shared Prosperity”, brought together representatives from governments, businesses, civil society, and international partners to discuss natural resource governance, responsible investment, revenue mobilisation, the energy transition, and energy security.
As part of the programme, Francisco Monteiro met on October 6th, with Maria van der Hoeven, who assumed the Chairmanship of the EITI Board of Directors for the 2026–2029 term. The meeting focused on the initiative’s evolution amid transformations in the energy sector, investment requirements, and the mobilisation of financing for natural resource development projects.
The following day, the Minister spoke at the session “From Preparation to Shared Prosperity: Lessons from EITI Portuguese-Speaking Countries in Africa and Asia”, alongside representatives from Timor-Leste, Angola, Mozambique, and São Tomé and Príncipe. Francisco Monteiro presented Timor-Leste’s experience—the country has been implementing the EITI since 2008—and addressed the challenges of transparency, regulation, and public oversight associated with the development of the petroleum and mineral sectors. The Ambassador of Timor-Leste to the Kingdom of Belgium and the European Union, Maria Lurdes Bessa, accompanied the Timorese delegation during activities in Brussels.
On October 8th, during the Global Conference’s Leadership Forum, Francisco Monteiro announced, on behalf of the Government, three commitments to strengthen transparency in the petroleum and mining sectors: to move beyond current periodic reporting towards more systematic, timely, and accessible disclosure of information; to improve disclosure on state ownership, contracts and licences, beneficial ownership, and other matters covered by the EITI Standard; and to step up public disclosure and dialogue on the management and development of natural resources.
The Minister argued that transparency must be integral to day-to-day natural resource management and that increased state involvement in strategic projects must be accompanied by appropriate mechanisms for governance, accountability, and public oversight.
National participation concluded on October 9th with a presentation by Francisco Monteiro at the session “Energy Security in South-East Asia: Strengthening Resilience in an Era of Geopolitical Uncertainty”. The Minister outlined the national experience in natural resource management, including the governance model of the Petroleum Fund, and addressed challenges arising from the growth of the mining sector and the development of strategic petroleum projects.
In this context, he noted progress in the Greater Sunrise negotiations among Timor-Leste, Australia, and the project consortium, including a technical-level agreement on the Petroleum Mining Code, the Production Sharing Contract, and the Fiscal Regime, which are now undergoing their respective internal approval processes.
In the context of Timor-Leste’s accession to ASEAN, the Minister also highlighted that responsible development of national resources could contribute to regional energy security, alongside strengthening institutions and transparency and accountability mechanisms.