The Sunrise and Troubadour gas and condensate fields, collectively known as the Greater Sunrise fields, are located approximately 150 kilometres south-east of Timor-Leste and 450 kilometres north-west of Darwin, Northern Territory.
The fields were discovered in 1974 and hold gross (100%) contingent resources (2C) of 5.13 Tcf of gas and 225.9 million barrels of condensate (net Woodside share of 1.7 Tcf of dry gas and 75.6 million barrels of condensate)1.
On 6 March 2018, Timor-Leste and Australia
signed their new Maritime Boundaries Treaty. The Treaty was the culmination of
the international conciliation proceedings between Timor-Leste and Australia
being conducted by a Conciliation Commission, pursuant to the UN Convention on
the Law of the Sea and under the auspices of the Permanent Court of
Treaty triggers new Production Sharing Contract arrangements. Until these are
in place, the Sunrise Joint Venture continues to honour commitments under
existing contracts, maintain an office in Dili and support community programs
Offshore 150 km south-east of Timor-Leste and 450 km north-west of Darwin, Australia
less than 100 metres to more than 600 metres
5.13 Tcf gas, 225.9 MMbbl condensate1
PSC JPDA 03-19; PSC JPDA 03-20 (unitised); NT/RL2; NT/RL4
Gross: 2,998km2, Net: 958km2
1 Contingent resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations, but the applied project(s) are not yet considered mature enough for commercial development due to one or more contingencies. Contingent resources may include, for example, projects for which there are currently no viable markets, or where commercial recovery is dependent on technology under development, or where evaluation of the accumulation is insufficient to clearly assess commerciality. Woodside reports Contingent resources net of the fuel and flare required for production, processing and transportation up to a reference point and non-hydrocarbons not present in sales products. Contingent resources estimates may not always mature to reserves and do not necessarily represent future reserves bookings. All Contingent resource volumes are reported at the ‘Best Estimate’ (P50) confidence level.