Woodside offers fix on Sunrise deadlock

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 : 19-Oct-18

ConocoPhillips advised in late September that it had entered into an agreement to sell its stake in the Greater Sunrise venture to the Timor-Leste government for $US350 million. Woodside Petroleum and the other members of the venture have pre-emption rights over the stake, and Woodside CFO Sherry Duhe says a decision on whether to do so will be made soon. Timor-Leste is insisting that gas from Greater Sunrise is processed onshore, but Woodside CEO Peter Coleman has reaffirmed that an onshore plant would not meet its investment hurdles. He said a way around this dilemma would be for Woodside to only invest in the offshore part of the project. Woodside has reported a 25.4 per cent increase in sales for the September quarter.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, CONOCOPHILLIPS, ROYAL DUTCH SHELL PLC, OSAKA GAS COMPANY, TOKYO GAS COMPANY LIMITED, KANSAI ELECTRIC POWER COMPANY INCORPORATED

Woodside may back Timor gas export plant

Original article by Perry Williams
The Australian – Page: 22 : 3-Oct-18

ConocoPhillips’ deal to sell its 30 per cent stake in the Sunrise gas field to the Timor-Leste government may prompt Woodside Petroleum to resume negotiations over development of the Timor Sea resource. There is speculation that Woodside may be more open to processing gas at a greenfields plant on Timor-Leste in the wake of ConocoPhillips’ move. Woodside has a 33 per cent stake in Sunrise and it is the operator of the project.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, CONOCOPHILLIPS, ROYAL DUTCH SHELL PLC, OSAKA GAS COMPANY, SANTOS LIMITED – ASX STO, WOOD MACKENZIE, CREDIT SUISSE (AUSTRALIA) LIMITED

Sunrise gas no chance for Darwin LNG

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 21 : 9-Mar-18

Santos executive Bruce Clement says there is little prospect of gas from the Sunrise project in the Timor Sea being processed at the Darwin LNG plant. The Darwin facility and a greenfields plant in East Timor are the only options included in a new treaty on the maritime boundary between Australia and East Timor. The Darwin plant currently processes LNG from the Bayu-Undan gasfield, which is expected to be exhausted by 2022-23. Clement says the Barossa gas field is the only one that can be assured of supplying the Darwin plant after Bayu-Undan reaches the end of its life.

CORPORATES
SANTOS LIMITED – ASX STO, CONOCOPHILLIPS, SK GAS COMPANY LIMITED, WOODSIDE PETROLEUM LIMITED – ASX WPL, ROYAL DUTCH SHELL PLC, OSAKA GAS COMPANY, PTTEP OFFSHORE INVESTMENT COMPANY LIMITED

Floating LNG not an option for Sunrise

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 : 8-Mar-18

Woodside Petroleum and ConocoPhillips have expressed disappointment that Australia and East Timor have not reached agreement on processing gas from the Sunrise gas field in the Timor Sea. An onshore processing facility in either Darwin or East Timor are the only options outlined in the new treaty on the maritime boundary between the two nations. Woodside has advocated the construction of a floating LNG plant. East Timor’s share of government revenue from Sunrise would be higher if the existing Darwin LNG plant is used.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, CONOCOPHILLIPS, ROYAL DUTCH SHELL PLC, PERMANENT COURT OF ARBITRATION, CARNARVON PETROLEUM LIMITED – ASX CVN

Canberra takes $8bn bath on Timor deal

Original article by Cameron Stewart
The Australian – Page: 2 : 7-Mar-18

Australia and East Timor will sign a treaty on the maritime boundary between the two nations in New York on March 7. The treaty is likely to change the revenue-sharing arrangement for oil and gas reserves in the Timor Sea from the current equal split to one that favours East Timor. This would reduce Australia’s revenue share from around $A20bn to $A12bn over the next 35 years. East Timor’s revenue share may increase further if LNG is processed at existing facilities in Darwin rather than in East Timor.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, WOODSIDE PETROLEUM LIMITED – ASX WPL, CONOCOPHILLIPS, ROYAL DUTCH SHELL PLC, OSAKA GAS COMPANY, PERMANENT COURT OF ARBITRATION

Sunrise gas must come to us: Dili

Original article by Paul Garvey
The Australian – Page: 20 : 10-Nov-17

The three partners in the Greater Sunrise LNG project have resumed negotiations with representatives of the Australian and Timor Leste governments. Processing gas from Sunrise at the Darwin LNG plant or a floating LNG facility remain the preferred option of the project’s partners, rather than a Timor Leste processing facility. Timor Leste Prime Minister Mari Alkatiri has indicated that his government would be open to options other than this one, although chief of staff Nelson Santos has stated that shipping gas to Timor Leste for processing must be considered.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, COCOS (KEELING) ISLANDS SHIRE COUNCIL, ROYAL DUTCH SHELL PLC, EAST TIMOR. OFFICE OF THE PRIME MINISTER

Woodside urges end to Sunrise deadlock

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 : 9-Feb-15

Rui Araujo is widely tipped to succeed outgoing East Timor Prime Minister Xanana Gusmao. Deakin University’s Damien Kingsbury says Araujo might be more amenable to negotiations regarding the Sunrise gas field in the Timor Sea, which has been the subject of a maritime boundary dispute between Australia and East Timor. Woodside Petroleum wants the impasse to be resolved so it can move forward with its $US13bn ($A17bn) Sunrise gas project

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, DEAKIN UNIVERSITY, EAST TIMOR. OFFICE OF THE PRIME MINISTER, FRETILIN, AUSTRALIA. NATIONAL SECURITY COMMITTEE, ROYAL DUTCH SHELL PLC, CONOCOPHILLIPS, INTERNATIONAL COURT OF JUSTICE, AUSTRALIA. DEPT OF INDUSTRY AND SCIENCE