The Sunrise Joint Venture has contributed almost A$ 5 million towards community programs in Timor-Leste.
The development of Greater Sunrise has the potential to deliver value to both the people of Timor-Leste and shareholders.
The Sunrise development comprises the Sunrise and Troubadour gas and condensate fields, collectively known as Greater Sunrise.
The Greater Sunrise fields 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 5.1 Tcf of dry gas and 226 million barrels of condensate.
Following the establishment of a new maritime boundary treaty between Australian and Timor-Leste in 2019, negotiations between the Governments and the Sunrise Joint Venture on a new Greater Sunrise Production Sharing Contract have been ongoing.
The Sunrise Joint Venture remains committed to the development of Greater Sunrise provided there is fiscal and regulatory certainty necessary for commercial development to proceed.
PSC JPDA 03-19; PSC JPDA 03-20 (unitised); NT/RL2; NT/RL4
Palm Business and Trade Centre
Block E01-06 Surikmas, Fatumeta, BairroPite