DILI, 04 October 2019 (TATOLI) – Timor-Leste’s National Petroleum Authority (ANPM) is in talks with the Australian government to finalize a legal framework for the Greater Sunrise (GS) joint oil venture.
The new maritime boundary came into force on August 30, after the two countries exchanged diplomatic notes. That prompted a rewrite of the extraction agreement, with Timor-Leste set to take more of the oil revenue.
“We have made a contact with Australia and companies involved in Greater Sunrise including [state-owned] TIMOR GAP,” Gualdino da Silva said.
“Within six months we intend to finalize [a] new contractual and fiscal regime for Greater Sunrise.”
Mr Silva said ANPM said there would be direct input from TIMOR GAP, as contractor, to prepare the plan and finalizing the concept for national development.
“ANPM will lead this negotiation for the Greater Sunrise Development Concept, which will be finalized next year, 2020,” he said.
East Timor and Australia need a new agreement because the new treaty shifts the Greater Sunrise project into Timor-Leste jurisdiction. Previously, TL took 70 per cent of the revenue from the joint-venture, and Australia 30 per cent. Under the new agreement
The negotiation proses before, 70 percent in favor of Greater Sunrise for Timor-Leste and 30 percent for Australia; or 80 per cent to TL and 20 per cent to Australia, if a future pipeline to Timor’s south coast is built.
Questions have been raised over the engineering and financial viability of such a pipeline. But Timor’s principal negotiator for maritime boundaries, Xanana Gusmão, assuaged public confusing, saying because the pipe is “positively” coming to Timor-Leste.
“I am pleased because in just 20 years, we can already do it, [especially] if we compare with other countries that got their independence many years [earlier], so this is good that we continue to make the effort and desire to serve this country,” he said.
Originally published in Tetum as: TL Halo ona Negosiasaun ho Austrália Atu Finaliza Konseitu Dezenvolvimentu GS
Journalist: Florencio Miranda Ximenes
Editors: Maria Auxiliadora; Robert Baird
Translation: Nelia Borges
