Timor-Leste: East Timor PM Seeks to Diversify Economy with Help of Oil Fund

Aug 26, 2015 | Randy Fabi, Reuters
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East Timor will tap into its $16.6 billion oil fund to build the necessary infrastructure to attract non-energy investment, the prime minister said on Wednesday, as disputes over undeveloped gas fields look to remain unresolved for years. Rui Araujo told Reuters the government would not compromise on its demand that Woodside Petroleum build onshore processing facilities in the development of the Greater Sunrise gas fields, a project that could provide billions of dollars to the impoverished nation.