DILI, 01 december 2022 (TATOLI) – Australia’s Special Representative on the Greater Sunrise project, Steve Bracks said the development of the Great Sunrise project in onshore Timor-Leste is dependent on the decision of the Sunrise Joint Venture (Woodside, Osaka Gas, and Timor Gap).
Bracks made the comments at a press conference after a meeting with Timor-Leste’s Minister of Petroleum and Minerals, Victor da Conceição Soares, in Dili.
“It is a very important project for Australia, and we want to see the Sunrise project move forward to be economically viable and to be a productive contributor to Timor-Leste’s economy,” he said.
When asked about Australia’s position on the Sunrise project to be developed in Timor-Leste, Bracks said: “Where the gas is processed really matters for the joint venture to determine and Australia does not have a position on this at all. That’s a matter that will be determined by the joint venture.”
He said Australia wanted to see the project to be developed in the best possible way: “Obviously we will work cooperatively with all parties to make it happen.”
Bracks also said that the financial tax regime for the Sunrise project has been advanced and the work has been going very well.
“Minister Soares has done a great job in advancing this project in the interest of Timor-Leste and we want to work with the Timorese government to ensure that this project gets off the ground very soon,” he said.
At the same place, Minister Soares said that the Sunrise project is very important for Timor-Leste.
“We had fruitful and productive discussions with Australia’s Special Representative on the Greater Sunrise project, Steve Bracks. We briefed him on Timor-Leste’s position and our strategic plan for the development of Greater Sunrise in onshore Timor-Leste, which is known as the Tasi-Mane Project. Timor-Leste needs Australia’s support to advance the development of the project.,” said Soares.
In august 2022, Minister Soares told the Australian Financial Review in an exclusive interview that Woodside and the Australian Government should be “fair” by allowing the processing of Sunrise’s liquefied natural gas to be undertaken on the south coast of Timor-Leste, rather than Woodside’s preferred option of Darwin.
The President of the National Petroleum and Minerals Authority (ANPM), Florentino Soares Ferreira said that the document of the Production Sharing Contract (PSC) and the Petroleum Mining Code (PMC) has already been delivered to the Sunrise Joint Venture: “Meanwhile, the Australian government has agreed to use the Timor-Leste fiscal regime.”
“We will continue with our efforts to ensure that we can start producing natural gas from the Greater Sunrise fields before 2030,” he said.
Ferreira pointed out that the Greater Sunrise development on the South Coast will benefit other large oil and gas development projects in the country.
“Greater Sunrise’s LNG and natural gas processing plants and facilities can be utilized for other oil and gas exploration projects both onshore and offshore Timor-Leste,” he added.
The Sunrise project is operated by Joint Venture between TIMOR GAP (56.56%), Woodside Petroleum (33.44%), and Osaka Gas (10%).
The Sunrise field is estimated to contain 5.13 trillion cubic feet of recoverable natural gas and 226 million barrels of condensate (oil), which could give Timor-Leste US$50 billion in revenues.
Journalist: Filomeno Martins
Editor: Nelia Borges
