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2 clusters · 4 sources · 8 days · First seen · Last updated

Timor-Leste Greater Sunrise gas project development

Overview

Timor-Leste President José Ramos-Horta has advocated for the development of the Greater Sunrise gas fields in the Timor Sea, describing the project as an “economic imperative” necessary for job creation and national financial security following the closure of the Bayu-Undan field. Ramos-Horta expressed optimism regarding negotiations with Australia and Woodside Energy, noting that regulatory agreements were expected to be signed following technical negotiations in September.

Subsequently, Woodside Energy agreed to sell its 33.44% interest in the project to Timor-Leste’s national oil and gas company, TIMOR GAP, for up to $200 million. This transaction, which includes Woodside’s entire interest in the Sunrise Joint Venture, would allow TIMOR GAP to hold full ownership of the project. TIMOR GAP intends to develop the Sunrise and Troubadour fields using a pipeline to Natarbora on the southern coast of Timor-Leste. The deal is expected to close in the first half of 2027, pending regulatory and government approvals.

Entities

Greater Sunrise · Woodside Energy · Timor-Leste · Francisco Monteiro · José Ramos-Horta

Timeline

  1. [BUSINESS] 3 sources
    TIMOR GAP to acquire Woodside stake in Greater Sunrise for $200M

    TIMOR GAP will acquire Woodside Energy’s 33.44% stake in the Greater Sunrise gas project for up to $200 million, aiming for full ownership of the Timor Sea resource.

  2. [BUSINESS] 2 sources
    Timor-Leste President advocates for Greater Sunrise gas project

    Timor-Leste President José Ramos-Horta calls the Greater Sunrise gas project an economic necessity for the nation's future and urges affordable clean energy technology for developing countries.

Sources

aogdigital.com · correiodamanhacanada.com · forbesafricalusofona.com · sapo.pt