Political Risk Analysis - Maritime Agreement Bodes Well For Greater Sunrise Development - NOV 2017
BMI View: The agreement on a maritime border obtained by Timor-Leste and Australia is a positive first step for the future of the Greater Sunrise field development and could bode well for the continued development of Timor-Leste's oil and gas sector. However, with most of the details of the agreement having yet to be fully agreed upon, we note that much work remains to be done.
The announcement by Timor-Leste and Australia in September that they have reached an agreement on a maritime border that has been the source of a long dispute is a positive first step for the future of the Greater Sunrise oil and gas field development. This bodes well for Timor-Leste's economic future as oil production at the Bayu-Undan oil field is set to decline over the coming years. However, we note that much work remains to be done as most of the details of the agreement have yet to be fully agreed upon.
Agreement Marks End Of Long Running Dispute