Law No. 1/2019 amending Law No. 13/2005 on Petroleum Activities.

This Law amends Law No. 13/2005 on Petroleum Activities. Amendments deal with the participation of the State and other public corporations in Petroleum Operations. In particular, amendments establish that the decision on the participation of East Timor public corporations, including entities, in Petroleum Operations, must be approved by the Council of Ministers, which may delegate its power to the Prime Minister. The legislative amendment approved by this law is intended to make clear that the participation of the State, public corporations and any other legal persons wholly owned or controlled by them are not limited to a maximum participation of 20% when that participation is based on a commercial transaction. This law also introduces an exception to the system of prior supervision of the Chamber of Accounts of the Superior Administrative, Tax and Accounts Court, exempting from prior approval any contracts related to the acquisition of rights, for the State or for any another public corporate body to participate in oil operations.