RE: Why wont TL not pay for drill???6 Feb 2025 09:50
They can't, that's why the urgency now, to get OTHERS to pay for and build the Refineries, they face a financial cliff, already been stated, with no new revenues (Bayu now only trickle flow) The fund was set up in 2005 to build and fund the development of its OTHER SECTORS (looking beyond oil and gas) using the new revenues from Bayu (gas) and Kitan & Buffalo (oil both long depleted).
The fund has paid 80-96% of the Islands annual budget during all this time, with it projected at current spends by 2030 and 2034 if annual budget cuts keep being made.
The INFRASTRUCTURE is the be all and end all, their concrete plan since Gusmao told Shell and co NO in 2002, has been its ALL comes to the Island facilities (neither built or affordable to themselves)
That has all changed now, with multiple offers in place, as posted yesterday , Inpex Japan one of those, talking about the building and running of those facilities, if/when built.
The game has changed, said 4 years ago and until recently, until that situation changes, sector interest/others willing to build etc , Boil now Sunda would not do anything, more recently said, ALL of those OBSTACLES, have now melted away
and 2025 should be a cracker, once the ball starts rolling.........
Timor Gap have no money, they survive on handouts from the government until they start turning serious revenues, they only got 56% of Sunrise on the cheap, years after the Majors said leaving, due to a LOAN from Gov to Timor Gap, for $650m
Going it alone has never been an option, they also get hundreds of million annually from the various, supportive gov's , IMF , World bank etc , etc, most have now put stings to future funding, with the sensible control of the SPW Fund being one......already been slated for years by the local NGO's for the billions already spent, with nothing to show for it.
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