China – Companies from China, Japan and South Korea has shown interest in oil and gas exploration in East Timor, but an agreement has yet to be signed, the Timorese minister for the Economy and Development, Joao Goncalves said Thursday in Macau.

"There have been some initial contacts, not only with Chinese companies, but also with South Koreans companies and Japan is also interested," the minister said speaking to Portuguese news agency Lusa.

However Joao Goncalves said that "at the moment nothing has been signed," and explained that a "Timorese state company," had been set up, "to negotiate every possible partnership for exploration of oil and gas in Timor."