|Subject: ABC: Woodside to negotiate Timor
Sea gas project in new year
ABC News Online
Thu, Dec 27 2001 11:39 PM AEDT
Woodside to negotiate Timor Sea gas project in new year
Oil and gas producer Woodside Energy plans to start negotiating a Timor Sea gas project with East Timor early in the new year.
The talks will follow similar negotiations over another gas project in the region.
Woodside and its co-venture partners plan to develop the Greater Sunrise gas field north-west of Darwin, in the Timor Sea.
About 20 per cent of the gas field lies in the area jointly controlled by Australia and East Timor.
Woodside says it will start negotiating with both countries in the first few months of the year.
The company says it hopes to follow the lead of Phillips Petroleum, which last week reached an agreement with East Timor on developing another Timor Sea gas field, Bayu-Undan.
Phillips hopes that agreement will be signed on East Timor's Independence Day in May.
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