Timorese Prime Minister Xanana Gusmao (right) and UN Secretary-General Antonio Guterres
Greater Sunrise brightens Timor-Leste's outlook
But the young nation may have to go through a fallow period before that project comes online as the Bayu-Undan field nears exhaustion
As Timor-Leste approaches the 25th anniversary of its independence referendum, the young nation’s upstream prospects have improved. The long-awaited Greater Sunrise development finally appears to be making progress, while independents are also exploring in and around the island. The Greater Sunrise joint venture (JV)—comprising Australian LNG giant Woodside (operator, 33.44%), Japan’s Osaka Gas (10%) and state-owned Timor GAP (56.56%)—recently appointed engineering consultancy Wood to undertake the project’s concept study. The results are due “no later than the fourth quarter of this year”, according to a joint communique from the JV and the governments of Timor-Leste and Australia. Wood wil
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