Member Info for filthylucre

Eni's plans for big Australian gas project put on the back burner

Italian energy major Eni has put its plans on the back burner to develop a large shallow-water gas discovery in northern Australia in which a final investment decision had originally been planned for this year.

The Verus project is based on the development of the Evans Shoal gas field, which contains about 10 trillion cubic feet of raw gas in place but with a high carbon dioxide content of 29%.

The development plan revealed last year had been a floating production, storage and offloading vessel capable of processing 900 million cubic feet per day of gas, and a subsea gas export pipeline of about 380 kilometres to the existing Darwin LNG plant in which Eni is a part owner.

https://www.upstreamonline.com/exclusive/enis-plans-for-big-australian-gas-project-put-on-the-back-burner/2-1-1615691?fbclid=IwAR3dDrsAaGtJqqV52PM8PT0UEKt0kAPHHzB5iof-BavsGJo1pbq-1kx5v6g_aem_ARh_2HsW267kHfot4UmXcCAzE97Tzj2Qzh88Pwb0MAlLr3R1AHKrdpd9vtXaO-gxBv0

A decision can’t be far off. Possibly even weeks away. Further delays would be farcical. Woodside /TL agreement would be transformative for our fortunes. The drill goes ahead either way but Chuditch gas might be stranded indefinitely without GS development.

Https://www.dfat.gov.au/news/media/Pages/shared-bilateral-and-regional-priorities-feature-at-senior-officials-meeting-between-timor-leste-and-australia

We should know where we are with Greater Sunrise after this meeting. It should be high on the agenda. Was discussed in previous SOM in 2019.

Dili, 22 March 2024

The Director-General of Bilateral Affairs for Asia and Oceania of the Ministry of Foreign Affairs and Cooperation, Marcos da Costa, led the first of a series of preparatory meetings for the Third Senior Official Meeting (SOM) between Timor-Leste and Australia, which will be hosted by Australia in late April 2024.

In attendance at the meeting were representatives from line ministries such as the Ministry of Finance, Ministry of Justice, Ministry of State Administration, Ministry of Public Works, Ministry of Interior, SEFOPE, and TradeInvest.

Urgent action needed if Australia is to avoid catastrophic gas shortfall, operator warns.

This article makes a strong case for why future gas projects must be developed in Australia to support both domestic supply and energy demand in Asia.

As the Australian Energy Market Operator (AEMO) warns, diesel may be required to run gas generators on Australia's east coast in 2025 and 2026 because of a potential lack of available gas.

And as Kevin Gallagher from our member company Santos Ltd points out, without Australian LNG, nations in Asia could look to Russia to meet their energy security and energy transition needs in decades to come.

By continuing to responsibly develop major gas projects, Australia can address its own energy security requirements and reinforce its reputation as a trusted energy supplier to Asia.

https://www.linkedin.com/posts/asia-natural-gas-energy-association_urgent-action-needed-if-australia-is-to-avoid-activity-7176472603392446464-ihHT?utm_source=share&utm_medium=member_ios

20 March 2024

While offshore oil and gas exploration in Australia and Southeast Asia has fallen dramatically since 2010, a recovery is now underway with drilling picking up and exciting deep-water probes planned. .

https://www.energynewsbulletin.net/exploration/news-analysis/4184424/offshore-exploration-set-rise-southeast-asia-australia

Note comment from our new CEO

I’ll have a look VT. TBH, depends very much on often very confusing local articles difficult to translate.

A number of the regions undergoing infrastructural changes in the South have made what they describe as societal changes to laws to attract private investment. The elephant in the room is Greater Sunrise and Woodside. Anybody’s guess.

𝐃𝐢𝐥𝐢, 𝟏𝟒 𝐌𝐚𝐫𝐜𝐡, 𝟐𝟎𝟐𝟒

Minister of Foreign Affairs and Cooperation (MoFAC), 𝐁𝐞𝐧𝐝𝐢𝐭𝐨 𝐝𝐨𝐬 𝐒𝐚𝐧𝐭𝐨𝐬 𝐅𝐫𝐞𝐢𝐭𝐚𝐬, had a meeting with the Country Representative for the World Bank in Timor-Leste, 𝐁𝐞𝐫𝐧𝐚𝐫𝐝 𝐇𝐚𝐫𝐛𝐨𝐫𝐧𝐞 and discussed on the current existing and future cooperation on Timor-Leste's roads infrastructure financing including potential cooperation on technical assistance.

On the other note, Harborne also congratulated Timor-Leste for the successful accession to the World Trade Organization (WTO).

On 18 March 2024- courtesy meeting between Your Excellency Minister of State Administration, Mr. Tomás do Rosário Cabral, with the resident representative of International Finance Corporation (IFC) in Timor-Leste, Mr. David Freedman was held. The courtesy meeting was held in the meeting room of the Cabinet of the State IFC is part of the private sector of the World Bank and is the largest financing institution for private sector development.

a few posts from tl whilst not directly related to boil show the country’s energy and forcefulness in developing an oil and gas industry.

anp says it has found three (3) oil vein perforations on the south coast, in suai post that is progressing well, so efforts continue to commercialize east timor's oil to the international world. "we did the drilling for three oil vein perforations on the southern coast, which were tested and studied in indonesia to detect if the oil from suai could be categorized as technically feasible or not, but there is still no commercial card," said anp vice president *****ino pereira bere to journalists in tibar, tuesday (19/03/2024).

A very good researcher on this board

I think Kylie alluded to this. Might be a sign of joint venture preparations. Timor Gap vacancy.

Vacancy Announcement March 2024

1. National Legal Advisor – One Position

Main Responsibilities: He/she is required to assist and support TIMOR GAP subsidiaries in negotiating commercial agreements and JOAs with potential partners

2. International Legal Advisor – One Position

Main Responsibilities: Provide expert legal advice and guidance to the company, draft and review all types of agreements, including MOUs, Farm-Up agreements, joint-operating agreements (JOAs) and production sharing contracts (PSCs). The international legal advisor is required to provide legal support to TIMOR GAP subsidiaries in the PSC application process and PSC negotiations with the ANP and relevant Ministries.

https://www.timorgap.com/vacancy-announcement-march-2024/

Interview with Gusamo on Greater Sunrise. Well worth a listen. Zero compromising. Unfortunately.

https://www.abc.net.au/listen/programs/global-roaming/bonus-ep-timor-prime-minister-xanana-gusmao/103565584?utm_campaign=abc_listen&utm_content=link&utm_medium=content_shared&utm_source=abc_listen

Just as an aside, the president of Timor Gap said he hopes Bayu Undan can continue to produce for another 3, 5 or even 7 years. He wasn’t joking.

this evening’s #networking ****tail organized by anp timor leste , timor gap, e.p. and anm timor leste on "strengthening business partnerships in the timor-leste oil & gas industry" on the sidelines of #aog2024 was a huge success in #perth! with over 100 attendees, the event featured presentations from #timorleste companies and government entities, as well as international and australian companies active in the timor-leste #oilandgas and #mining sector.

the large delegation of timorese businesses present at the event were looking to connect with potential future partners, and we were thrilled to see the support provided by the australian federal government and the wa state government. if you missed the event, be sure to drop by the timor-leste booth (c14) at aog!

https://www.linkedin.com/posts/ricardo-silva-6256ab7_networking-aog2024-perth-activity-7174017854382563328-s0xp?utm_source=share&utm_medium=member_ios

I would be very pleased listening to that on my investment potential

Andy Butler just spoke with great confidence and enthusiasm about the upcoming drill. Things moving very quickly. Very good relationship with the regulators on approvals. Excellent relationship with the government who are very supportive. Chuditch very important to TL economy.

Focus on Santos and Bayu Undan in first session. Business partnerships discussed.

Next panel starting shortly.

the networking event is live on facebook starting at 10

https://facebook.com/events/s/timor-leste-networking-****tai/7440700919301365/

𝐌𝐢𝐧𝐢𝐬𝐭𝐞𝐫 𝐨𝐟 𝐏𝐞𝐭𝐫𝐨𝐥𝐞𝐮𝐦 𝐚𝐧𝐝 𝐌𝐢𝐧𝐞𝐫𝐚𝐥 𝐑𝐞𝐬𝐨𝐮𝐫𝐜𝐞𝐬 𝐖𝐞𝐥𝐜𝐨𝐦𝐞𝐬 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐓𝐚𝐥𝐤𝐬 𝐰𝐢𝐭𝐡 𝐒𝐇𝐁𝐊 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐇𝐨𝐥𝐝𝐢𝐧𝐠 𝐆𝐫𝐨𝐮𝐩

𝐃𝐢𝐥𝐢, 𝐌𝐚𝐫𝐜𝐡 𝟏𝟏, 𝟐𝟎𝟐𝟒

The Minister of Petroleum and Mineral Resources, H.E. Francisco da Costa Monteiro, engaged in productive discussions with potential investors from SHBK International Holding Group, based in Abu Dhabi, on exploring investment opportunities within Timor-Leste. The meeting, held at the Minister's office, included Mr. Selvam G. Ramaraj and delegation from SHBK, indicating a keen interest in the oil and gas sector among various investment opportunities in the country.

SHBK International Holding Group, under the Chairmanship of Sheikh Hamdan Bin Khalifa Al Nahyan, brings a strong investment focus from a notable lineage deeply embedded in the development and prosperity of Abu Dhabi. The Al Nahyan family, to which Sheikh Hamdan belongs, plays a pivotal role in the UAE, contributing significantly to its economic growth and diversification efforts across a wide range of sectors, including energy, real estate, and technology.

The discussions centered on the potential for collaboration between Timor-Leste and SHBK International Holding Group, aiming to harness Timor-Leste's promising oil and gas sector. H.E. Francisco da Costa Monteiro voiced his optimism for the discussions, highlighting the importance of such international partnerships in realizing Timor-Leste's economic and developmental goals.

https://m.facebook.com/story.php?story_fbid=pfbid027LA68E1njDQHULsjBpRZZCmM4EQo41cT3Z8Te4QNRipEXi8DJgAcXZTvZxAKn29al&id=100094730889338