DILI, 15 March 2026 (TATOLI) — Timor-Leste and Australia have finalized a key regulatory document for the development of the Greater Sunrise project, marking a significant progress in long-running negotiations between the two countries.
Following a meeting in Dili between the Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro and Australia’s Special Representative for Greater Sunrise, Katrina Cooper, held in the presence of Australian Ambassador Caitlin Wilson, it was announced that the Petroleum Mining Code (PMC) — a key framework governing the project — had been finalized last month.
Speaking after the meeting on Tuesday, Monteiro said the finalization of the PMC reflects positive momentum in bilateral negotiations and paves the way for further agreements essential to advancing the project.
He said discussions will now focus on finalizing the fiscal regime and the Production Sharing Contract (PSC), both of which are expected to be concluded within 2026.
Negotiation teams from both countries will continue close discussions in the coming months, both online and in person, with a meeting planned in Canberra in July 2026.
Minister Monteiro said once the fiscal regime and PSC are finalized, the Greater Sunrise joint venture is expected to submit a development concept plan for the project.
Timor-Leste has held to its position that oil and gas from the Greater Sunrise field should be processed onshore in the country, as part of a broader strategy to maximize domestic economic benefits.
TATOLI
