Timor GAP is in a stronger position to develop Greater Sunrise

Timor GAP is now in a stronger position to develop the Greater Sunrise gas field following its acquisition of Woodside's stake. Rui Soares, the president of Timor GAP, emphasized that this acquisition brings Timor-Leste closer to its long-held aspiration of developing the gas field. The deal, valued at $200 million, allows Timor GAP to fully own the consortium exploring Greater Sunrise, which is crucial for transforming the southern coast into an industrial hub. The project aims to create jobs and boost the local economy. Greater Sunrise holds significant untapped natural resources, with estimated contingent resources of 5.13 trillion cubic feet of gas and 225.9 million barrels of condensate. The maritime boundary agreement with Australia stipulates revenue sharing based on the gas pipeline's destination.