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    Timor-Leste Cabinet Agrees Sunrise Deal


The $350mn deal has secured cabinet approval.

by: Mark Smedley

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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.