Member Info for filthylucre

Jarv, I completely agree. As regards Sunrise, TL government have done everything they can to prepare. It’s a Yes from Woodside that’s holding this up. Stringing them along. Don’t trust them. The good news is that Chuditch becomes more important. Conversations and public discourse around this will increase. The TL government strike me as serious and committed and in a hurry.

Https://youtu.be/UHJ9iEu-f98?si=aj31XVjCOYcC4VWw

DILI, December 11, 2023 (TATOLI)- Special Representative of Greater Sunrise Australia, Steve Barcks, said that Australia prefers to conduct a new feasibility study for the concept of Greater Sunrise development. "We prefer a new feasibility study. The joint venture companies have already decided to conduct a new feasibility study for the development of Greater Sunrise. So, in this study, they will look into the economically viable options that are even better for Timor or Darwin. The results will be available in June 2024," said Steve Barcks after meeting with Prime Minister Kay Rala Xanana Gusmão at the Government Palace on Monday.

Special representative from Australia considers the meeting with the Prime Minister a positive step. "We had a very good meeting with the Prime Minister and accompanied by the Minister of Petroleum and Mineral Resources. We discussed the ongoing progress and especially about the feasibility study of the Greater Sunrise development process. We hope to continue this progress in the future," he added. Relevant news shows positive results of the Greater Sunrise field development negotiations. As a special representative for Greater Sunrise project, he stated that Australia is committed to continuing this project."

"We also need to consider the viability of the commerce and economy, but we hope that by next year we will have made a decision from this negotiation. 'We have discussed many things but we need to develop a pipeline to Timor, I am considering this matter carefully and we will have updates soon,' he said. Timor-Leste State, through Timor GAP E.P, has taken part in the Greater Sunrise consortium, with a majority participation of 56.56%, Woodside (operator) 33.44% and Osaka Gas 10%."

https://tatoli.tl/2023/12/11/australia-prefere-halo-estudu-viabilidade-foun-ba-dezenvolvimentu-greater-sunrise/?fbclid=IwAR3XAiWxGBQeizloikurJoadfMtZMGQMFyLksUjWor7qBYb6XZfQg44ftGw_aem_AVsOTiL76OqELkGLC4ZuATJkOjqtYn3MU6tWLOwYGhvinKCKmsTobYd34UorYnwxXC0

This would be a wonderful gift to TL....after being played by Woodside for decades, it would be good for them to take charge of their destiny!

Vivek Chandra

Founder and CEO of Gulfstream LNG, a greenfield LNG project

Great comments on this LinkedIn post.

From knowledgeable individuals

The #Chuditch discovery in Timor-Leste 🇹🇱 doesn't have too much publicity as The Greater Sunrise, but their new updated reserves estimates makes it similar in size (5.5 Tcf)

Baron Oil PLC considers utilising a hybrid floating and platform LNG system, which does not require export pipelines or border crossings, and is a fast development option that could see them exporting gas by 2028.

Development at Sunrise (very low CO2) might open the door for a lower cost Chuditch development but the uncertain CO2 levels are the Achilles heal unless Bayu-Undan could be used as the CO2 store (albeit much higher development cost). When Shell discovered Chuditch they cast doubt on the accuracy of the CO2 level with similar fields along strike having up to 38% (Blackwood). Hg levels might be another nasty development impediment. Keep in mind that Sunrise itself has challenges to overcome.

https://www.linkedin.com/posts/dbongiovanni2_baron-oil-says-its-timor-leste-offshore-block-activity-7139773293347160064-altQ?utm_source=share&utm_medium=member_ios

Proposed 2024 budget on Petroleum sector

The petroleum sector has been the main source of revenue for the State General Budget to provide public services to the population and to build and maintain the infrastructure of our nation. The government remains committed to maximizing petroleum and mineral revenues and achieving balance in the Petroleum Fund, in order to ensure its sustainability for future generations. The following seven measures will be implemented in 2024, led by the Ministry of Petroleum and Minerals and implemented by direct and indirect administration services as well as public companies, to maximize investment in the petroleum and mining sectors:

7.1.1. Completion of detailed engineering designs for the jetty on the southern coast of Suai-Supply Base. (MPM/Timor Gap, E.P.)

7.1.2. Continued construction of the new neighborhood for the resettlement of the population on the southern coast of Suai-Supply Base. (MPM/FI/Timor Gap, E.P.)

7.1.3. Initiation of pre-FEED study on the development of the Greater Sunrise field and seek to ensure the construction of gas processing facilities on the southern coast of Timor-Leste. (MPM/Timor Gap, E.P.) 7.1.4. Conclusion of discussions on the Mining and Petroleum Exploration Code (PMC), Production Sharing Contract (PSC), and fiscal regime between partners of the Greater Sunrise (SJV) and the governments of Australia and Timor-Leste, represented by ANPM. (MPM/ANPM)

7.1.5. Commencement of construction of the fuel import port, including natural gas, for electricity production and ensuring sustainability of national energy consumption. (MPM/Timor Gap, E.P.)

7.1.6. Creation of the Mining Fund to ensure better administration of revenues generated by mining activities in the country. (MPM/ANPM/CMTL,S.A.)

7.1.7. Initiation of investment partnership for rocks and metallic minerals, including potential investment in limestone. (MPM/CMTL S.A.) 7.1.8. Conducting the study and identification of the onshore and offshore petroleum system and the mineralization zone of metallic resources.

https://www.laohamutuk.org/econ/OGE24/MOP/230405PropostaPPL_Grandes_Opcoes_Plano_2024pt.pdf

Clearly too much time on my hands.

We need better PR. We need government officials/ Timor Gap talking up Chuditch. Things could move very quickly.

Eddie, I deliberately left out the link since it’s taken from an individual’s social media page.

If you’re delving into TL’s institute of technology and the petroleum student chapter, he’s a central figure. No doubt part organiser of next week’s Sundagas lecture.

This is a popular post from a petroleum lecturer in Dilli and prominent member of SPE Timor Leste.

I’m sure we all agree with the sentiment.

“The production of the Bayu Undan (BU) offshore gas field has ended and is now being prepared for dismantling. According to the plan of the Timor-Leste government, through the Ministry of Petroleum and Mineral Resources, the BU field will be converted for the implementation of Carbon Capture and Storage (CCS) technology. The mineral company SANTOS is the operator of the BU field. The progress of the technical feasibility study on CCS is not currently intensive. Based on technical study information, the CCS implementation in the BU field has reached the Front-End Engineering Design (FEED) phase. The technical study, regulations, financing options, commercialization, and contracts associated with and contemplative upon the CCS project also received support from international partnerships such as the International Finance Corporation (IFC) and international consultants that the TL government hired to provide services together. On the other hand, the Chuditch gas field located in the Timor Sea is an alternative field to the BU field that the future may use to continue producing revenue for Timor-Leste. Based on information gathered, the Chuditch field’s production could possibly begin in 2028”.

Major LNG field in the Timor Sea breathes its last gasps but reincarnation awaits.

Timor-Leste's landmark Bayu-Undan field has provided gas for its final cargo of liquefied natural gas from the Darwin LNG facility as the field lives out its final days, although it could be reincarnated.

The final LNG cargo from Bayu-Undan departed Darwin last month, according to field operator Santos.

Bayu-Undan has been a huge contributor to Timor-Leste's financial wellbeing, and the country now faces a period of no petroleum revenue.

The field could however be reincarnated as a carbon capture and storage facility in a scheme being proposed by the field's owners, with support from the Timor-Leste government, whereby carbon dioxide from undeveloped fields such as Barossa and Evans Shoal could be reinjected into the Bayu-Undan reservoir.

https://www.upstreamonline.com/lng/major-lng-field-in-the-timor-sea-breathes-its-last-gasps-but-reincarnation-awaits/2-1-1566704

𝐌𝐏𝐑𝐌 𝐖𝐄𝐋𝐂𝐎𝐌𝐄𝐒 𝐃𝐄𝐋𝐄𝐆𝐀𝐓𝐈𝐎𝐍 𝐅𝐑𝐎𝐌 𝐒𝐀𝐍𝐓𝐎𝐒 𝐂𝐎𝐌𝐏𝐀𝐍𝐘

𝐓𝐮𝐞𝐬𝐝𝐚𝐲, 𝐃𝐞𝐜𝐞𝐦𝐛𝐞𝐫 𝟓, 𝟐𝟎𝟐𝟑

His Excellency, the Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro, met with a delegation from the Santos Company, led by Mr. Matt Sherwell, Chief Negotiator for Carbon Capture and Storage (CCS), accompanied by the Country Manager of Santos Company, José Lobato, to discuss the petroleum industry and the Carbon Capture and Storage (CCS) project.

The CCS project is part of a technology that can reduce the production of carbon dioxide gas - CO2, which has a significant impact on the environment. Timor-Leste is keen to implement this project in relation to the upcoming end of production at the Bayu-Undan oilfield. The MPRM is awaiting for the official submission of the proposal from Santos on this project.

This project is seen as vital for the development of the oil and gas sector in the region, both in terms of economic growth and environmental sustainability.

This initiative is expected to boost the national economy and create jobs, as it addresses environmental concerns associated with the petroleum industry.

With all due respect Dealer, I suspect Andy Yeo is making strategic decisions based on technical, financial and political information that you and I are not privy too. He’s looking for optimum outcomes. I think Yeo and Butler have so far have worked miracles. It can always go tits up but it’s an excellent bet and I for one am enjoying the ride. The potential is off the scale. Government backing. International investors knocking on the door. Proven massive gas field. That’s for starters.

Really don’t get the negativity surrounding the latest news. Talks making good progress. Sounds like pretty long and serious and detailed negotiations going on. Exactly as you’d expect considering the size and complexity of the project. Drilling is an absolute certainty and drawling closer by the day. What a time to be invested. Bring it on.

Could not give two hoots if the day traders pull out. Wouldn’t sell these for love nor money.

More work towards building a home grown energy sector.

𝐌𝐏𝐑𝐌 𝐏𝐑𝐄𝐒𝐄𝐍𝐓𝐒 𝐎𝐈𝐋 𝐀𝐍𝐃 𝐆𝐀𝐒 & 𝐌𝐈𝐍𝐄𝐑𝐀𝐋 𝐏𝐑𝐎𝐉𝐄𝐂𝐓𝐒 𝐓𝐎 𝐓𝐑𝐀𝐈𝐍𝐄𝐄𝐒 𝐈𝐍 𝐂𝐎𝐍𝐅𝐋𝐈𝐂𝐓 𝐏𝐑𝐄𝐕𝐄𝐍𝐓𝐈𝐎𝐍

𝐀𝐭𝐚𝐛𝐚𝐞, 𝐃𝐞𝐜𝐞𝐦𝐛𝐞𝐫 𝟒, 𝟐𝟎𝟐𝟑

His Excellency, the Minister of Petroleum and Mineral Resources, Francisco da Costa Monteiro, on Monday, accepted an invitation from His Excellency, the Minister of the Interior, Francisco da Costa Guterres, to speak at a training session for mediators and focal points in conflict prevention, held in Raerobo, Atabae Administrative Post, Bobonaro Municipality.

In his presentation, His Excellency Minister Monteiro emphasized the importance of security, peace, and stability in attracting foreign investment, particularly in the petroleum and mineral sectors, thereby stimulating the national economy.

Currently, the government is intensively negotiating with Australia and Joint Venture companies to find solutions for bringing operations to Timor-Leste by 2024, ensuring job creation and active involvement of the private sector in the South Coast projects.

"When our people are unemployed, without economic activities, disputes can arise. If the economy and development go well, people, especially the youth, finding work in factories or at the LNG (Liquefied Natural Gas) plants, refineries, and other occupations, can prevent unrest and conflict," he explained.

Regarding the upcoming cessation of production from the Bayu Undan Field, the government is actively working to develop sectors such as agriculture, tourism, and economy, including petroleum and minerals, which promise high and quick returns in the coming years.

"To bring the pipeline to Timor-Leste, His Excellency the Minister and his team are making continuous efforts, but conflicts must be avoided. When conflicts arise, everything becomes difficult and doesn't go as planned. Therefore, conflict prevention in municipalities and administrative posts is crucial." stated Domingos de Carvalho, who is responsible for the training.

The training for mediators and focal points in conflict prevention, which began on November 15 and will conclude on December 15, aims to strengthen the system of community conflict prevention and resolution, contributing to sustainable development.

https://m.facebook.com/story.php?story_fbid=pfbid0o89dE4KqBPTGsX59j19jsgu2nAeNGHk5oQmY4WK3gYqCXPjDU1i94ZUqny3Ybpjxl&id=1

Good to see the talking stop and getting down to business.

Mow back to offshore gas exploration

PRESIDENT RAMOS-HORTA BACK IN DILI AFTER ATTENDING UAE CLIMATE SUMMIT COP28

Dili, December 4, 2023

President J. Ramos-Horta touched down in Dili today after a 4-day trip to Dubai, United Arab Emirates to take part in the World Climate Action Summit alongside the 28th UN Climate Change Conference (COP28) hosted by the UAE.

In his national statement at the summit, President Ramos-Horta highlighted Timor-Leste's experiences with climate change impacts like floods, droughts and rising seas which he said have caused declines in crops, food shortages, infrastructure damage and loss. He emphasized Timor-Leste's adaptation and emissions reduction priorities while calling on developed nations to increase climate financing.

The President also held bilateral meetings on the sidelines of the conference before returning home today. In remarks upon arrival, Ramos-Horta stated he was encouraged by commitments made at COP28 while urging more global action to address the climate emergency.

Media PR

TL seeking more financial support from the World Bank

PM Xanana Gusmão accompanied by Minister of Finance, Santina Cardoso, had a meeting with the World Bank Director from Jakarta, Indonesia, Satu Kahkonen and World Bank Representative in Timor-Leste, Bernard Harbone, to discuss cooperation between the bank and the Timor-Leste government in the banking sector. The World Bank in Timor-Leste is ready to provide assistance for the nation's economic development process. The Prime Minister informs that Timor-Leste will continue to cooperate with the World Bank to help the government implement development projects that will improve the country's infrastructure and alleviate poverty for the people and the nation. The World Bank Director from Jakarta, Satu Kahkonen, informed that the World Bank continues to support all development programs and projects conducted by the Timor-Leste government.

"The World Bank will support the government's efforts to achieve 5% economic growth and also create job opportunities in Timor-Leste. Satu Kahnonen informed journalists at the Government Palace in Dili that the World Bank will provide support to achieve Timor-Leste's economic growth and create job opportunities. Meanwhile, during this time, the World Bank has already provided loan support to the Timor-Leste government to implement infrastructure development projects in Timor-Leste."

https://m.facebook.com/story.php?story_fbid=pfbid02yF3TWjjQy3UtmVokwr1Xaw3haMw2gGDqGyFwU4fJvvNxho638fWUNT1L4Mg5jFcdl&id=100094390130177

It would be nice to read these interviews. I’ve suddenly become a big fan of mega rich Middle Eastern dictatorships.

December 4, 2023 - Senior journalist, Lucius Daniel hosts an exclusive interview with Prime Minister Kay Rala Xanana Gusmão about Timor-Leste's government program and strategies related to its connection with the United Arab Emirates (UAE) and the world.

4th December

Senior journalist from the USA host Midia Imprimi USA Today interviewed Prime Minister Kay Rala Xanana Gusmão about the government's programs and strategies concerning Timor-Leste's connection to the international world at the Government Palace in Dili

Interesting to note a comment on LinkedIn from a research scientist with experience in the carbon capture industry -in connection with the Boil drilling news announcement -

“ More progress on development of the Timor-Leste dream of a national industry. Once this gets off the ground, Bayu-Undan CCS will undoubtedly have a big role to play”

As Horta makes all the right noises at COP 28 regarding decarbonisation and renewables, his get out card is Bay Undan CCS. Timor Leste is training an entire army of petroleum engineers and geologists to work on Greater Sunrise. Planning and budgeting for major offshore and onshore gas facilities. Chuditch might just be the launchpad they are looking for.

A week’s long discussion recently between TL government officials and industry leaders from Abu Dhabi with offers of investment in development.

Offers from China including major energy companies and then we hear ADNOC and China getting together to invest in LNG investments. A good time for Sundagas to be first in line with a big time offshore energy exploration project. CCS a huge advantage.

https://www.upstreamonline.com/lng/adnoc-eyes-lng-investments-with-china-in-three-major-energy-nations/2-1-1560957?trk=feed_main-feed-card_feed-article-content

Santos has strengthened its position as a regional carbon capture and storage (CCS) leader by entering into a strategic collaboration agreement with ADNOC, a progressive energy company based in Abu Dhabi.

The agreement will explore the potential for establishing a platform offering decarbonisation services to a broad range of energy users and includes potential:

Collaboration on the development of CCS technologies

Joint participation in global CCS projects

Provision of CCS solutions to emitting companies across Asia including the development of shipping and transport infrastructure.

Santos has a three-hub CCS strategy with the Moomba CCS project on track for first injection in 2024, front-end engineering and design (FEED) at Bayu-Undan CCS (offshore Timor Leste) nearing completion

https://energyclubnt.com.au/news/13285024