Asia privileged energy landscape positions it as one of the main markets for the coming years, and the prospects for growth in the energy sector are highly favorable.
Discovered in 1995, the Bayu-Undan field is located in the Timor Sea within the Joint Petroleum Development Area (JPDA), shared between Timor-Leste and Australia. It started production in 2004, with gas being exported via pipeline to Darwin, Australia. The field is currently being operated by Santos, which took over after ConocoPhillips' exit. The gas is processed at the Darwin LNG plant.
The Greater Sunrise project consists of the Sunrise and Troubadour gas fields, discovered in the 1970s, located in the Timor Sea. Due to ongoing discussions between Timor-Leste and Australia regarding revenue-sharing and onshore LNG development, the project has been delayed for years. The fields hold significant reserves, and Timor-Leste has been advocating for processing the gas onshore at an LNG plant in Timor-Leste, as part of its long-term economic development strategy.
An offshore oil field in Libya, located in Block C 137, about 100 kilometers off the coast in 90 meters of water depth.
The Buffalo field was originally developed by BHP and produced oil between 1999 and 2004 before being decommissioned. In 2016, Carnarvon Petroleum acquired the field with plans to redevelop it using modern technology. The redevelopment aims to extract additional oil from the reservoir. However, the project is still in its early stages, with approvals and preparations ongoing.
The Chuditch gas field, discovered in 1998, is located in the Timor Sea. SundaGas, a subsidiary of Baron Oil, holds the exploration rights for the field.
The project is currently in the appraisal phase, with ongoing seismic and technical studies to assess its commercial viability. Timor-Leste hopes the field could contribute to its energy independence and export revenue through LNG.
The Kitan oil field, discovered in 2008, was located in the JPDA and operated by Eni until it ceased production in 2015. The field had a short production life, starting in 2011 and ending in 2015. Decommissioning of the field was completed in 2017. While the field is now closed, it contributed significantly to Timor-Leste’s revenues during its production phase.
This block is located in the Joint Petroleum Development Area, and it is operated by Timor GAP, Timor-Leste's national oil company. The block is in the exploration stage, with geological surveys and seismic data being collected to assess its potential. This project is part of Timor-Leste’s strategy to develop its national oil and gas industry and reduce reliance on foreign operators.
"It was excellent. The conference was informative and the right size as it allowed for ample mingling and effective networking to take place".
"The great thing about the 4th Energy Summit is that it was informative, with good speakers and an excellent opportunity to network with the regional energy industry"
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"A critical forum for Timor-Leste's future. Thank you very much to the organizating committee!"
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