According to The Australian Financial Review, Peter Coleman, the CEO for Woodside, raised the possibility of investing in the offshore gas production part of Greater Sunrise, but said the company preferred to leave investment in the onshore plant to others.

The comments come as the Timor-Leste government has agreed to buy ConocoPhillips stake in the Greater Sunrise joint venture.

“If you disaggregate the project – meaning that the ownership of the onshore plant and the pipeline is different from the upstream – then we can see a pathway to investing in the upstream and that’s a model we see in Indonesia and Malaysia that works quite effectively,” Coleman told the Australian Pipeliner.

After the signing on October 2, Xanana Gusmão, Timor-Leste’s Special Representative, said in a government statement that: “ConocoPhillips and the other Joint Venture partners have always known Timor-Leste’s preference for the development of Greater Sunrise through a pipeline to Beaço on the South Coast of Timor-Leste.”

Woodside is the operator and one of four shareholders in the Greater Sunrise joint venture. It holds 33.4 per cent share alongside Shell (26.56 pc), ConocoPhillips (30pc) and Osaka Gas (10pc).

Source: Australian Pipeliner