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Unofficial translation by Lao HamutukDECREELAW No. 24/2023 of May 24 FIRST AMENDMENT TO DECREE LAW 31/2011, OF 27 JULY, TIMOR GAP TIMOR GS & PETREL, E.P. TIMOR GAP Timor Gs & Petrels, E.P., hereinafter
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The Timor Gap refers to the maritime area between Timor-Leste (East Timor) and Australia, which is rich in natural resources, particularly oil and gas.
Entities engaged in activities related to the Timor Gap, including those involved in exploration and extraction of resources, are required to file relevant documentation.
To fill out the Timor Gap filing, one must complete the prescribed forms, provide accurate data about resource extraction activities, and submit them to the relevant regulatory authority.
The purpose of Timor Gap regulations is to manage and monitor resource extraction in the region, ensuring proper allocation of resources and compliance with legal requirements.
Reporting must include details such as the volume of resources extracted, revenue generated, and compliance with environmental and regulatory standards.
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