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Timor Leste

Australasia

Timor Leste

Vertical axis in chart corresponds to thousands of barrels of oil equivalent per day.

Oil -  fossil oil produced from on and offshore reservoirs, including tight sands/shales; and liquids extracted from gas.

Gas - sales gas produced from on and offshore reservoirs, including tight sands/shales and coal beds.O

Full breakdowns are available in datafiles.

Vertical axis in chart corresponds to number of wells spudded in year including stand-alone sidetracks.

Wells in chart include those drilled in exploratory and development categories for oil and gas, but excluding CBM.

Full breakdowns are available in datafiles.

Early history

In development

Modern history

In development

Timor Leste gained independence from Indonesia in 2002 but a maritime boundary had not been established with Australia. The two sides agreed on a temporary boundary but Timor Leste later argued that deal had been unfairly forced upon them. In 2016 it contested the arrangement in the Permanent Court of Arbitration in the Hague and mediation was concluded in March 2018. A treaty put the border at the midway point between the countries in line with the United Nations Convention on the Law of the Sea (UNCLOS).

Australia had pushed for a border at the edge its continental shelf and so the deal allowed Timor Leste to receive at least 70% of the largest field, Greater Sunrise. Previously revenue was to be split evenly between the countries. Australia also lost jurisdiction in oil fields currently shared by both nations. Furthermore, under the agreement, Timor Leste will receive 80% of revenue if Sunrise gas is processed in Australia.

For recent events see News Briefs.

Regions

In development

Oil and gas forecasts

In development

TIMOR LESTE: OIL AND GAS FIELDS

Globalshift.co.uk (source:  La'o Hamutuk)