SJV to develop Greater Sunrise fields. (Credit: Ben Wicks on Unsplash)
Woodside Energy-operated Sunrise Joint Venture (SJV) has unveiled its plans to undertake a concept select programme for the development of the Greater Sunrise fields.
SJV comprises Timor-Leste’s state-owned oil and gas company TIMOR GAP with a 56.56% stake, Woodside Energy with a 33.44% stake, and Osaka Gas Australia with the remaining 10% interest.
The Greater Sunrise fields are located around 450km northwest of Darwin and 150km south of Timor- Leste, and include the Sunrise and Troubadour gas and condensate fields.
SJV said that it will consider the important issues associated with delivering the gas and LNG sales for processing to Timor- Leste compared to delivering the gas to Australia.
TIMOR GAP president and CEO Antonio de Sousa said: “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.”
The concept select programme includes studies that will use the latest technologies and cost estimates to update the previous work
They will also consider the socio-economic, capacity building, safety, environmental, strategic and security benefits of the various options.
SJV aims to complete the concept select programme quickly, and advance the negotiations for new production sharing contract, Petroleum Mining Code, and related agreements with Timor-Leste and Australian governments.
Upon finalisation, the concept select programme will provide the fiscal and regulatory assurance required for starting the development.
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 Sunrise Joint Venture to significantly advance this regionally important project.”