DILI, 20 january 2023 (TATOLI) – Members of the National Parliament (MPs) urge the government and the joint venture to resume negotiations on the Greater Sunrise development, which have been halted since november 2022.
“There is no reason to halt the negotiations on the Greater Sunrise development. We were informed that the legal framework for Greater Sunrise should be completed by december last year. But I have just learned that it has not yet been completed and hoping it can be completed in the first quarter of 2023,” Chairman of Fretilin bench, MP Antonino Bianco said.
Bianco said support from all parties is needed to resume and advance the Greater Sunrise negotiations. “We definitely want a positive outcome from the negotiations,” he said.
He said a political decision has already been taken by the government, so the parties should accelerate the technical issues between the government and the joint venture to conclude the agreement as soon as possible.
Bianco said a consensus among relevant entities will be necessary to concretize the agreement and advance with the development of the Greater Sunrise.
Bianco made the comments following Petroleum and Minerals Minister Victor da Conceição Soares’ statement on wednesday that Greater Sunrise Development negotiations have been halted since November 2022 due to disagreement between the joint venture partners (Woodside, Osaka Gas, and Timor Gap): “The disagreement between the joint venture partners is a simple thing that can be resolved.”
Deputy Chairman of CNRT bench, Patrocínio Fernandes said that CNRT is absolutely firm in its decision to support the Greater Sunrise development on Timor-Leste’s onshore.
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.
On march 6, 2018, Australia and Timor-Leste signed the Treaty establishing Maritime Boundaries between the two countries in the Timor Sea to resolve a long-running dispute over the maritime border and set a deal on how to share revenue from the offshore Greater Sunrise gas field.
Timor-Leste will receive 80% of the revenue if the gas is developed in Australia, or 70% if the gas is piped to Timor-Leste for processing.
Journalist: Filomeno Martins
Editor: Nelia Borges