Timor-Leste targets early agreements for Greater Sunrise gas project
President José Ramos-Horta says three regulatory and fiscal documents could be signed early next year, though a commercial development deal is not assured.
Key takeaways
- Timor-Leste expects to sign three project agreements early next year, pending reviews and approvals.
- A commercial agreement with Woodside and a final investment decision are not guaranteed.
Timor-Leste expects to sign three agreements for the Greater Sunrise gas project early next year, President José Ramos-Horta said. The documents would set regulatory and fiscal terms for exploration and development.
Ramos-Horta said the documents still need to be checked and approved by Timor-Leste, Australia and Woodside Energy. They cover a Petroleum Mining Code, a Production Sharing Contract and a fiscal regime.
The agreements would not guarantee a commercial deal on a development plan. Analysts and government and industry sources say a final investment decision may still be years away. Timor-Leste’s petroleum minister has said the country hopes to reach that decision by 2029, with production targeted for 2034-2035.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
