Exploration & Production

Australia and East Timor make Sunrise breakthrough

An agreement on the maritime boundary between East Timor and Australia could unlock development of the offshore Greater Sunrise field An agreement on the maritime boundary between East Timor and Australia could unlock development of the offshore Greater Sunrise field.
By Damon Evans 4 September 2017 0 27430
The Darwin LNG plant. (ConocoPhillips)

East Timor and Australia have agreed on the central elements of a permanent maritime boundary in the Timor Sea. The move is part of a conciliation process to settle their territorial dispute, which has stalled development of the Greater Sunrise gas field.

“The parties’ agreement constitutes a package and, in addition to boundaries, addressed the legal status of the Greater Sunrise gas field, the establishment of a special regime for Greater Sunrise, a pathway for the development of the resource, and sharing of the resulting revenue,”...