“Buy Local” Spreads: Supply Meets Demand
Well local [Timorese] suppliers are all the rage in some quarters these days. A cool new initiative is coming down the tracks next week as a result of an oil find in the Timor Sea about 250km south of Dili.
Most Timorese will never actually “see” the seas in which their oil wealth is coming from, but at least one big actor is taking seriously the business of making sure that Timorese business get in on the action.
Eni Australia, and Italian based multinational oil and gas outfit, recently discovered oil at the KITAN field. As they move forward in turning the discovery from aspirational to operational Eni is looking to involve the Timorese private sector in supplying the goods and services required by Eni and its subcontractors. As a result they are holding an event in Dili on 23 June designed to begin the process of creating a framework for connecting international buyer with local supplier.
So big business, along with the National Petroleum Authority, is pretty keen to build capacity through local procurement. Huh, interesting idea! Peace Dividend Trust will be presenting at the event, and is pleased to help out as much as it can. Its a worthwhile effort, and could lead to a very serious amount of money for onshore business.