Woodside and Partners Appoint Wood for Greater Sunrise Gas Concept Study

Following a global contract procurement process, the Sunrise joint venture partners including Timor Gap, Woodside Energy and Osaka Gas Australia, have appointed Wood Australia on a Greater Sunrise concept study.

The study will be led by Wood with a multi-disciplinary subcontracting team comprising specialist consulting partners, and is scheduled to be completed by the end of the fourth quarter of 2024.

It will consider the key issues for developing, processing, and marketing of gas with a strong focus on its delivery to Timor-Leste for processing and LNG sales, or the alternative of delivery of the gas to Australia.

The study will include a range of disciplines including engineering, financial assessment and financing, local content, strategy and security, health safety and environment, and socioeconomic analysis.

Also, it will evaluate which option provides the most meaningful benefit for the people of Timor-Leste.

The Sunrise joint venture is operated by Woodside Energy with 33.44%, with partners Timor Gap and Osaka Gas Australia, holding 56.56% and 10% stakes respectively.

Background: The Greater Sunrise fields, located approximately 450 km north-west of Darwin and 150 km south of Timor Leste, comprise the Sunrise and Troubadour gas and condensate fields.

The Sunrise development comprises the Sunrise and Troubadour gas and condensate fields, collectively known as Greater Sunrise.

The Greater Sunrise fields are located approximately 450 kilometres north-west of Darwin and 150 kilometres south of Timor-Leste.

Following the establishment of a new maritime boundary treaty between Australian and Timor-Leste in 2019, the joint venture and the governments have continued to make progress towards agreeing a new Production Sharing Contract, Petroleum Mining Code and fiscal regimes, which upon finalization will assist with providing fiscal and regulatory certainty.

Discovered in 1974, the Greater Sunrise complex holds resources of 5.1 trillion cubic feet of gas and 226 million barrels of condensate. The project is expected to start producing natural gas by 2028-2030.