Member Info for filthylucre

From last November. A very positive statement. Somehow missed. We can only hope.

A joint statement by Timor-Leste and Australia on the Greater Sunrise Governance Board.

The Greater Sunrise Governance Board, established under the Treaty between Australia and the
Democratic Republic of Timor-Leste establishing their Maritime Boundaries in the Timor Sea 2018 (the Maritime Boundary Treaty) met today for constructive discussions on the Greater Sunrise Special
Regime.
Comprising one representative appointed by Australia and two representatives appointed by Timor-Leste, the Governance Board provides strategic oversight and approves key governance arrangements for the Greater Sunrise Special Regime.
The members of the Governance Board, Ms. Cristina Yuri Rebelo dos Santos Costa and Mr. Juvenal Dias
from Timor-Leste, and Mr Shane Gaddes from Australia's Department of Industry, Science and Resources received a joint briefing on the progress Timor-Leste and Australia have made, together with the Sunrise Joint Venture, to develop the governance arrangements for the development of the Greater Sunrise fields. The Governance Board recognised the parties' significant effort throughout the year to progress these complex arrangements and welcomed the ongoing commitment by all parties to finalising the arrangements in due course.
The Governance Board also welcomed the recent announcement by the Australian Government that the Honourable Steve Bracks AC, has been appointed as Australia's Special Representative for Greater
Sunrise. Timor-Leste's Governance Board members will meet Mr. Bracks during his visit to Dili next
week.
Pursuant to the Maritime Boundary Treaty, the objective of the Greater Sunrise Special Regime is the joint development of petroleum in the Greater Sunrise fields for the benefit of both Timor-Leste and Australia.

https://www.facebook.com/100069174640699/posts/pfbid0BUH9JbFBS3F2dYQnFyoSuHL3RbDFb7oBAzi431EmfcBNmnpRAZiPVJ1uL7iLuvAWl/?d=n

Embassy of Timor Leste in Tokyo
December 22, 2022

I am very pleased to receive a guest visit from Mr. Ito Mimpei, New Director of JICA to Timor-Leste who was accompanied by Mr. TAMIO Shinya, Director of Pacific and South Asia Division 6 and Ms. TAKEDA Namiho, Timor desk of Pacific and South Asia Division 6 to provide information and experience and to encourage them on several new programs before they head to Timor Leste in January 2023.
There are several new thoughts that we convey and we are committed to realizing them in the future.

https://www.facebook.com/108177617605298/posts/pfbid07FRu4D8U2e1Ag7ggcVq5ybsLLgsvZQFJ38cGQKX3WoHaxkENSUfE7BqMDeZ9xvrDl/?d=n

Precisely what we need to hear from Sundagas/ Timor

Japan’s JGC and South Korea’s Heavy Industries Samsung Industries will build Petronas’s floating liquefied natural gas (FLNG)project after winning the engineering, procurement, construction and commissioning (EPCC) contract.

https://www.tradewindsnews.com/gas/petronas-awards-third-flng-job-to-jgc-samsung-heavy-industries-pairing/2-1-1378204

Channel News Asia, CNA, is a Singaporean multinational news channel that broadcasts free-to-air in Singapore and as a pay television channel internationally to 29 territories across the Asia-Pacific. On December 22, 2022, President José Ramos-Horta spoke with CNA Insider about relations with China and Australia, his country’s natural gas resources, and Timor-Leste’s readiness to join ASEAN.

https://ramoshorta.com/we-are-ready-to-join-asean-jose-ramos-horta-timor-leste-president-in-conversation/?fbclid=IwAR294R8R6iqUUyJ5uiICjVmObaa4pHeXlYOydz75XgEwoBY5a1crJT7_8Ew&fs=e&s=cl

No real relevance to Sundagas but a signing in ceremony for onshore Block A. Brief mention of Greater Sunrise.

Minister of Petroleum and Minerals, Dr. Victor da Conceição Soares, through a brief speech delivered during the ceremony, stressed that “today we come together to help and witness the important step in exploration of our petroleum wealth in Timor-Leste, especially in Lautem Municipality, this important step is the signing ceremony of the Production Sharing Contracts (or terms of Inglesh) Contract Sharing Contracts between ANPM and TIMOR GAP. The unique vision of the Ministry of Petroleum and Minerals is to“ continue to develop and manage petroleum and mineral resources to ensure sustainable economic development ”. With this mission,“ The Government body responsible for the design, execution of the energy policy and management of mineral resources, as well as oil and other strategic minerals, licensing and licensing of extractive, industrial and benefits from petroleum and minerals including petroleum and refining ”. The Ministry has set 11 long-term policies or objectives, firstly: Ensure the development and sustainability of the petroleum fund, through studies, research, exploitation, production/exploitation and diversification of investment in the oil and mining sectors in the offshore, the Special Regime of Greater Sunrise within the country and abroad, with a view to ensuring that revenue from petroleum and mineral activities contributes to social, industrialization and national development. The Minister of Petroleum and Minerals also stressed that" in the future, TIMOR GAP technicians will present the presentation or improvement of the plan for Exploration Activity in this block, especially about their technical services plan, as well as the Local Content program that will provide direct and indirect benefits to communities living in this block, as well as so that all the communities in this area may have knowledge of what activities will happen in the future ”. Finally, the Minister of Petroleum and Minerals, Dr. Rui Maria de Araújo, and the Minister of Petroleum and Minerals. Victor da Conceição Soares thanked ANPM for its efforts during the second round of promotion of Timor-Leste's petroleum resources, and thanked all the local authorities and the Lautém community for their cooperation, hoping to maintain good cooperation and coordination with the ANPM and TIMOR GAP in the future, in order to contribute to the success of this exploration activity, giving greater appreciation to TIMOR GAP and the potential for the success of activities in Block A (Raharan).

First of all apologies. Spacing gone. Links gone. No option to edit. Sometimes this platform drives me nuts.
3rd parties? I’d imagine Timor / Australian parliaments. I suspect, hope, a lot is going on behind the scenes but we have oil and gas sceptics in both Horta and the Australian premier. Horta would take billion dollar inducements in a heartbeat to ditch exploration. I hope Chuditch development can remain apart from Sunrise but I fear any capital spending on infrastructure will depend on agreement across the entire region.

Some notes on Woodside.Investor Briefing meeting 2022. Might be of some interest if you’re interested in facts, not fiction. (only joking, love a good ramp). 1hr 14 min in on Greater Sunrise “We remain committed to exploring for hydrocarbons”.https://youtu.be/zns2YhB2tqwBaker Hughes and Woodside Energy to Collaborate on Decarbonizing the Natural Gas Supply Chain | Baker HughesHOUSTON and LONDON – Dec. 8, 2022The MoU seeks to identify projects for potential collaboration between the two companies including potential projects in Australia, Asia and the United States, subject to any necessary third-party approvals. Baker Hughes will explore how its portfolio of solutions have the potential to support Woodside’s climate strategy. Australian Energy Market Operator (AENI) projections have shown that Western Australia needs more gas to meet demand by 2032. Efficient project assessment and approvals will be required to expedite this process as coal-fired power retires and gas generation continues to increase, APPEA Director WA Claire Wilkinson tells Business News.

Welligence Energy Analytics

East Timor LNG? Woodside Energy’s CEO has said, for the first time, that gas from its large Sunrise field could be piped to a new-build onshore LNG plant in East Timor. The field contains 5.3 Tcf of gas plus condensates, in waters straddling the East Timor and Australian maritime border.

Woodside previously planned to send the gas to the existing Darwin LNG plant in Australia, which, due to feedgas constraints, is expected to temporarily cease production around end-2022, until Barossa comes online in 2025. Building an East Timor LNG plant, versus piping the gas to Darwin, would require large additional capex but pipeline distances would be greatly reduced and it could accelerate monetisation of other stranded resources in East Timor like SundaGas’s 1.3 Tcf Chuditch field.

CEO Meg O’Neill said last Thursday, December 1, that new technology is available, including modular LNG like Fortress Energy’s systems, which did not exist when past concepts were evaluated.
FFS! If ENI can fast track LNG production in Congo of all places, Woodside should be able to manage it in East Timor, if it really puts the finest minds in Perth to it. As Juice Media reminds us, in this not suitable for work video, if Woodside spent as much effort on developing Sunrise as it did lobbying the Western Australian and federal governments, the project would already be in production.
Others are moving faster.

COLUMN | The first twelve days of Christmas 2022: Sonangol, PwC and Isabel dos Santos; Windcat, Damen and CMB; LNG in East Timor, Mozambique and Tanzania [Offshore Accounts] - Baird Maritime

https://www.industry.gov.au/news/be-part-australias-liquefied-natural-gas-partnership-timor-leste

Chuditch gas is located at the gateway to Asian energy markets.

https://asia.nikkei.com/Business/Energy/Japan-plans-crash-program-to-build-gas-fired-power-plants

Energy Analyst and journalist Damon Evans comments;

In simplistic terms, I see two options to move Sunrise forward from persistent stalemate:
1) TimorGAP buys out Woodside. Therefore, TimorLeste can control the development pathway.
2) Australian government incentivises sending the gas to northern Australia, where plenty of operators including Woodside would develop the Sunrise fields. Australia gives up its share of any development and gives all those revenues/entitlements to Timor Leste. TL gets all the other benefits/incentives as proposed previously under the 2018 deal brokered by the UN that Dili rejected.
Of course, second option is far out there.
Maybe a third options:
3) East Timor gets the financial backing to build the infrastructure in Timor Leste and Woodside handles the offshore upstream portion. Dili needs to come up with the financing and Woodside has previously said it will come to the party.

“We remain committed to exploring for hydrocarbons.”

Oil and gas major Woodside has argued it can keep growing despite mounting calls for a mortarium on new gas fields, telling investors it remains committed to “exploring for hydrocarbons.”

Until its purchase of BHP’s petroleum division was completed in June, Woodside was a business almost entirely based on the development of two huge offshore gas projects: the North West Shelf and Pluto, both in WA.
It now has three more in its sights: Calypso in Trinidad and Tobago obtained from BHP, and two off Australia it has struggled to get off the ground for decades: Browse and Sunrise.

https://www.watoday.com.au/business/companies/woodside-energy-still-open-to-chasing-new-gas-projects-20221130-p5c2ns.html

What an absolute joy to see us up. It’s been torrid recently. Don’t even care if this doesn’t last. Just a reminder of its bounce ability has lifted my day.

As our share price plunges, largely due to the placing, I really hope that none of the money raised goes towards the organisation and attendance of Seapex conferences, exhibitions and social events. Our two directors play a prominent role in Seapex and appear to give it a lot of time. I’m sure that wouldn’t/ couldn’t happen. Nothing to do with BOIL company.

You are correct. I’ve always seen Dunrobin as a bit of a side show but could yet surprise on the upside. We wait. Patiently.

Yes.
Could even be used to give two fingers to Woodside. Twitter rumour might carry some substance.

Might be wrong about this but I suspect almost everyone is invested here because of Chuditch. Happy to see progress on other projects but Timor is the big one. My attention is firmly focused on it.

Implications for the entire sector.

From Charlie2021’s link.

A source close to Timor Gap said: “Timor Gap is not interested in diluting its shareholding. The focus needs to be on bringing the gas to Timor Leste and there are multiple major oil and gas companies who have expressed interest in the project on that basis.”