Timor Sea Gas Discoveries

Including the discoveries of the huge gasfields of Sunrise, Bayu-Undan, and Petrel/Tern, the Timor Sea boasts over 22 trillion cubic feet of known gas reserves.

Recent major gas discoveries include Argus, Blacktip, Abadi and Crux. Various proposals to develop these gas resources of the Timor Sea are currently being explored.

Northern Territory Minister for Business, Industry and Resource Development, Paul Henderson, announced that in the next four years $835 million will be spent in the greater Timor Sea in petroleum exploration. This is a marginal increase of around $73 million over forecast in February 2001 and is due mainly to the 11 new exploration permits granted in Western Australian, Northern Territory and Ashmore and Cartier Islands adjacent waters since then. While most of this increase is due actually in WA, the Northern Territory can expect spin-offs during exploration and certainly development from some of these potentially hydrocarbon rich areas.

The Northern Territory, in liaison with the Commonwealth Government, is promoting the Timor Sea for petroleum exploration, and it is hoped the imminent
Bayu-Undan gas pipeline will enhance exploration in the region.

Ten areas in the Northern Territory and Ashmore and Cartier Islands waters were released in April 2002. It is intended that a similar sized release will be made in 2003 in the Timor Sea.

For more information on Timor Sea oil and gas, read the Timor Sea oil and gas fact sheets or other oil and gas publications.

Last updated:   Monday, June 30, 2003