The study will be led by Wood, with a subcontracting team comprising specialist consulting partners, considering key issues for developing, processing, and marketing gas with a focus on the delivery of gas to Timor-Leste than to Australia
Wood to conduct Concept Study for Greater Sunrise fields. (Credit: Pedro Farto on Unsplash)
Wood Australia, a subsidiary of UK-based Wood, has secured a contract for conducting a Concept Study for the Greater Sunrise gas fields, located offshore Timor Leste.
The study contract has been awarded by partners of Sunrise Joint Venture (SJV), after a global contract procurement process.
SJV is owned by TIMOR GAP with a 56.56% interest, Woodside Energy with a 33.44% stake, which is also the operator, and Osaka Gas Australia with the remaining 10.00% interest.
Wood will lead the study with a subcontracting team comprising specialist consulting partners.
The study will consider the key issues for developing, processing, and marketing gas focusing on the delivery of gas to Timor-Leste for processing, LNG sales and delivery of gas to Australia.
It includes a range of disciplines including engineering, financial assessment, financing, local content, strategy and security, health safety and environment, and socioeconomic analysis.
The study, which is expected to be completed by the fourth quarter of this year, will evaluate the most beneficial options for the people of Timor-Leste.
In addition, the SJV and the governments will sign a new Production Sharing Contract, Petroleum Mining Code and fiscal regimes, which will enable fiscal and regulatory certainty.
The Greater Sunrise fields are located around 450km northwest of Darwin and 150km south of Timor Leste, hosting the Sunrise and Troubadour gas and condensate fields.
In February last year, SJV announced its commitment to undertake a concept-select program for the development of the Greater Sunrise fields.
TIMOR GAP president and CEO Antonio de Sousa then said: “TIMOR GAP’s efforts have substantially contributed towards realising the long-awaited goal of developing Greater Sunrise.
“This path forward is a significant commitment to our stakeholders, to the aspirations of those who made sacrifices to achieve independence for the Democratic Republic of Timor-Leste, and to the future of our people and Timor-Leste.”
Woodside Energy CEO Meg O’Neill said: The development of new technologies and growing demand for safe and reliable LNG meant it was the right time to bring forward the concept select program.
“It is important we continue to look at ways to develop the Greater Sunrise fields using the latest technologies by evaluating, for example, modular LNG, that did not exist in the past.”