• Natural Gas News

    Timor-Leste Cabinet Agrees Sunrise Deal

Summary

The $350mn deal has secured cabinet approval.

by: Mark Smedley

Posted in:

Natural Gas News, Asia/Oceania, News By Country, Southeast Asia

Timor-Leste Cabinet Agrees Sunrise Deal

Timor-Leste's cabinet (council of ministers) October 10  approved the government's resolution to acquire ConocoPhillips' 30% stake in the Greater Sunrise gas field.

The government announced October 1 it would pay US$350mn for the 30% interest, adding that it expects to close in 1Q 2019 following other approvals.