Woodside Energy and its joint venture partners are closer to ending the deadlock on developing the Greater Sunrise gas fields off the north-west coast of Australia.
The Sunrise Joint Venture (SJV) said on Monday it would consider key issues for delivering the gas, for processing and liquefied natural gas sales, to Timor-Leste compared to piping it to Darwin.
The studies will incorporate and update previous work with the latest technologies and cost estimates, while also considering social, environmental, strategic and security benefits of the various options.
"The SJV is aiming to complete the concept select program expeditiously given the benefits that could flow from developing the Sunrise fields," according to the joint statement.
Woodside previously maintained piping gas from the field to the undeveloped south coast of Timor-Leste was not viable, but committed in December to reviewing that position.
Woodside CEO Meg O'Neill said the development of new technologies and growing demand for safe and reliable LNG meant it was the right time to bring forward the concept select program.
"Against a backdrop of global geopolitical instability and constrained energy supply chains, there is an opportunity for the Sunrise Joint Venture to significantly advance this regionally important project," she said.
The head of the Timor-Leste state oil company Timor Gap, Antonio de Sousa, said this path forward offered a clearer way to prosperity, equality, peace, stability and sustainability for current and future generations.
Osaka Gas Australia managing director Yo Otsuka said it was important to assess and compare the development concept from technical and commercial points of view to select the best option.
The partners said they were also progressing the negotiation of the new production sharing contract, petroleum mining code and associated agreements with the Timor-Leste and Australian governments.
Finalisation will provide the fiscal and regulatory certainty required for a development to proceed, they said.
The Sunrise development, about 450 km north-west of Darwin and 150 km south of Timor-Leste, comprises the Sunrise and Troubadour gas and condensate fields.
The fields contain an estimated resource 5.3 trillion cubic feet of dry gas and 226 million barrels of condensate.
Timor-Leste had threatened to turn to China to fund the project, after urging Woodside to dump plans for a Darwin gas processing hub.
