Timor-Leste now has its full control over Greater Sun Rise gas exploration in the Timor sea. This means getting the gas pumped to South Coast is possible.
Dili, 27 October 2026 – TIMOR GAP, Timor Gás & Petróleo, E.P. (“TIMOR GAP”) today announced that it has signed a Sale and Purchase Agreement (the “Agreement”) with Woodside Energy Ltd. (“Woodside”) under which TIMOR GAP will acquire Woodside’s entire participating interest in the Greater Sunrise fields in the Timor Sea.
Under the Agreement, TIMOR GAP — the national oil and gas company of the Democratic Republic of Timor-Leste — will acquire all of Woodside’s interests in Retention Lease NT/RL2, Retention Lease NT/RL4, and Production Sharing Contracts JPDA 03-19 and JPDA 03-20. On completion, TIMOR GAP will hold 100% of the participating interests in the Greater Sunrise project.
The transaction values Woodside’s Greater Sunrise interests for a total consideration of US$ 200 million, payable at different stages of the project: Base Consideration of US$ 13.71 million, payable at Completion, FID Contingent Consideration of US$ 11.29 million, payable within thirty (30) days of that FID being made; and, a Production Contingent Consideration of US$ 175 million, payable within three hundred and sixty-five (365) days of commencement of loading of the first cargo of such liquefied natural gas which is ultimately for sale to a customer, in accordance with the terms of the Agreement.
The transaction reflects TIMOR GAP’s commitment to the orderly and swift development of the Greater Sunrise fields in the Timor Sea, following the entry into force of the Maritime Boundaries Treaty between Timor-Leste and Australia. It consolidates ownership of Greater Sunrise under TIMOR GAP and positions the company to fast-track development of the field via a pipeline to Natarbora on the south coast of Timor-Leste.
TIMOR GAP President and CEO Mr. Rui Soares described the acquisition as a significant milestone for TIMOR GAP and for Timor-Leste.
“We are now in a stronger position than ever to expedite the development of Greater Sunrise and advance the selection of the Timor LNG development concept, bringing us closer to realizing our nation’s long-standing aspiration of developing Greater Sunrise on Timor-Leste’s southern coast.”
“Greater Sunrise represents far more than the development of natural gas resources. It offers a strategic opportunity to transform Timor-Leste’s southern coast into an industrial and energy hub, building skills, creating jobs for Timorese citizens, developing local businesses and supporting wider economic activity in the south.”
“Securing full ownership of the participating interest in Greater Sunrise is an important achievement, but it also carries significant responsibility. Our focus is now on translating this achievement into concrete progress towards the development of the project.”
“TIMOR GAP wishes to acknowledge the leadership of His Excellency the Minister of Petroleum and Mineral Resources and extend its appreciation to the legal and technical teams for their valuable contributions to the successful conclusion of the Sale and Purchase Agreement with Woodside.”
The Sunrise and Troubadour gas and condensate fields — collectively known as the Greater Sunrise fields — are located approximately 150 kilometres south-east of Timor-Leste and 450 kilometres north-west of Darwin, in Australia’s Northern Territory.
Completion of the transaction is subject to all necessary governmental and regulatory approvals and customary conditions precedent.
