3. Schedule
• Industry Presentations
– Singapore September 2, 2005
– London September 6
– Calgary September 9
– Houston September 13
• Procedures
– Initial Tender Protocol September 30
– Operator pre-qualification from October 1
– Bidders Workshop November 17-18, 2005
– Final Tender Protocol ~end January, 2006
– Pre-qualification deadline 15 days after FTP
• Bidding and Award
– Bidding mid-March, 2006
– Contract Signature by mid-June, 2006
4. Pre-qualification
• Operators (only) must be pre-qualified on legal,
financial and technical bases
• Pre-qualification is of parent or controlling
company
– At discretion of OGED, very large companies may
pre-qualify with significant operating subsidiary
• Company must be capable of discharging all
obligations under the PSC
• Pre-qualified company will provide financial
guarantee and guarantee general performance
under PSC
5. Criteria for Technical
Qualification (operator only)
• Oil equivalent production levels
• Exploration and Production
operations offshore and in
deep/ultra-deep water
• Exploration and Production
operations in hostile or
environmentally sensitive areas
• Experience in international
operations
7. Documentation Required for
Financial Qualification
• Last three years audited accounts
• Credit rating (Moody’s, S&P or
equivalent)
• Credit lines or other bank
references
• Other materials supporting the
financial capacity of the company
8. Documentation Required for
Legal Qualification
• Constituent documents (By-Laws,
Articles of Incorporation, etc)
• Names of Shareholders who own
more than 20% of shares or voting
rights or in any other way exercise
control
• Designation of properly empowered
Legal Representative
• Affidavit attesting to non-existence
of any material legal judgment
9. Submission of Pre-Qualification
Documentation
• Submissions accepted from October
1, 2005
• Documentation must be submitted no
later than 15 days after the publication
of the Final Tender Protocol
(published at least 45 days prior to
Bidding)
• Notification of pre-qualification as
soon as possible
10. Bid Processing Fee
• Bid processing fee in the
amount of US$25,000 payable
for each bid submitted
– Payable in aggregate by each
bidding entity
11. Acquisition of Seismic Survey
• Purchase of BGP-GGS survey (by
company or bidding group) is
requirement for participation
12. Consortia
• Companies free to form consortia up
to point of bidding
• Only considerations that apply are:
– Must have pre-qualified Operator as
designated Operator
– Operator must hold at least 30%
– No partner less than 5%
– Companies may only bid in one consortium
on any one Contract Area
13. Final Tender Protocol (Edital)
• Definitive process document for offering
- quot;Editalquot;
• Publication expected late January, 2006
• Substantially the same as ITP with
additional detail on
– Time, place, date and final instructions for
bidding
– Bid evaluation criteria weighting
– Definitive PSC and Form of Guarantees
• Bidding will be a minimum of 45 days
after the publication of the Final Tender
Protocol
14. Bidding Process
• Bids must comprise
– A completed Bid Summary form (in official
language)
– Bid support documents, (free-form, in
English)
– Bid Bond
– Bid Processing Fee
– Receipt from purchase of BGP-GGS data-
set
15. Bid Evaluation
• Bids will be ranked on the scope and scale
of the proposed guaranteed work program
to be completed in the initial exploration
period
• Objective weighting of work program
components – e.g. 2D/3D seismic surveys,
exploration wells, other geotechnical
surveys and analysis, training and capacity-
building support
• Evaluation Commission reserves right to
reject any bid that is considered
inconsistent with overall objective of well-
considered and cost-effective exploration
16. Contract Signature
• May be signed up to 90 days after
bidding
– Before mid-June, 2006
• Requires company to be
incorporated and domiciled in
Timor-Leste
– Pre-qualified company still provides
general performance guarantee
17. Explanation of Information
• Telephone
– Simple queries only
• Fax, e-mail
– Simple queries - dealt with directly
– More complex queries - may be posted on
website (unattributed)
• Legal, Commercial and Technical
workshop
– November 17-18, 2005 in Dili
18. Website
• All information pertinent to offering
• Regularly updated, containing:
– Initial and Final Tender Protocols
– Contract Area Maps
– Basic Offering Information / Schedule
– Relevant legislation
– FAQs
– Links to General Information on doing
business in Timor-Leste
20. In Summary...
• A virtually untouched exploration
opportunity in a proven petroleum
system with established giant fields
• Contract areas with sufficient time
and acreage to explore
• Competitive contract and fiscal
conditions
• Commitment to transparency and
free-market principles
