The Sunrise Joint Venture (SJV), comprising operator Woodside Energy (33.44%), TIMOR GAP (56.56%), and Osaka Gas Australia (10.00%), have committed to undertake a concept select program for the development of the Greater Sunrise fields.
Woodside said the SJV will consider all of the key issues for delivering the gas, for processing and LNG sales, to Timor-Leste compared to delivering the gas to Australia.
It explained that the studies will incorporate and update previous work by utilising the latest technologies and cost estimates while also considering the socio-economic, capacity building, safety, environmental, strategic, and security benefits of the various options. They will also include an evaluation of which option provides the most meaningful benefit for the people of Timor-Leste.
TIMOR GAP President and CEO Antonio de Sousa said he was pleased that TIMOR GAP’s efforts have substantially contributed towards realising the long-awaited goal of developing Greater Sunrise.
“This path forward is a significant commitment to our stakeholders, to the aspirations of those who made sacrifices to achieve independence for the Democratic Republic of Timor-Leste, and to the future of our people and Timor-Leste. It offers a clearer path to prosperity, equality, peace, stability, and sustainability for current and future generations.”
Woodside Energy CEO Meg O’Neill said the development of new technologies and growing demand for safe and reliable LNG meant it was the right time to bring forward the concept select program.
“It is important we continue to look at ways to develop the Greater Sunrise fields using the latest technologies by evaluating, for example, modular LNG, that did not exist in the past. Against a backdrop of global geopolitical instability and constrained energy supply chains, there is an opportunity for the SJV to significantly advance this regionally important project.”
Osaka Gas Australia Managing Director Yo Otsuka said it was important to assess and compare the development concept from both technical and commercial points of view to select the best option for the success of the Sunrise project.
Woodside noted that, in parallel to the concept select program, the SJV is also progressing with the negotiation of the new Production Sharing Contract, Petroleum Mining Code, and associated agreements with the Timor-Leste and Australian governments, which upon finalisation will provide the fiscal and regulatory certainty required for the development to proceed.
The Sunrise development, located approximately 450 km northwest of Darwin and 150 km south of Timor-Leste, comprises the Sunrise and Troubadour gas and condensate fields. The fields contain an estimated contingent resource (2C) of 5.3 Tcf of dry gas and 226 MMbbl of condensate (100%).
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