The development of Greater Sunrise has the potential to deliver value to both the people of Timor-Leste and the shareholders of the Sunrise Joint Venture.
The Sunrise and Troubadour gas and condensate fields, collectively known as Greater Sunrise, are located approximately 450 kilometres north-west of Darwin and 150 kilometres south of Timor-Leste. The fields were discovered in 1974 and hold gross (100%) contingent resources (2C) of 5.13 Tcf of dry gas and 225.9 million barrels of condensate.
On 6 March 2018, the governments of Timor-Leste and Australia signed a new Maritime Boundaries Treaty.
In November 2018 negotiations between the governments of Timor-Leste, Australia and the Sunrise Joint Venture on the new Greater Sunrise Production Sharing Contract commenced. Until new arrangements are in place, the Sunrise Joint Venture will continue to honour existing commitments, support social programs in Timor-Leste, and maintain an office in Dili.