Original article by Peter Milne
The Age – Page: Online : 27-Aug-24

Sources have indicated that the Timor-Leste government is seeking a stake of at least 10 per cent in the Bayu Undan gas project in the Timor Sea. The production-sharing contracts of Santos and its partners in the project are slated to expire on 30 August; Timor-Leste’s Petroleum Minister Francisco da Costa Monteiro has written to Santos warning that the contracts will not be extended unless the Bayu Undan partners agree to the government’s demands. The gas fields are almost depleted, and Santos proposes to use them to store carbon from its Barossa gas project.

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SANTOS LIMITED – ASX STO, EAST TIMOR. MINISTRY OF NATURAL RESOURCES, MINERALS AND ENERGY