Woodside Agrees to Sell Greater Sunrise Stake to TIMOR GAP for Up to $200M

Woodside Energy has agreed to sell its 33.44% participating interest in the Greater Sunrise gas project in the Timor Sea to Timor-Leste's national oil and gas company TIMOR GAP for up to $200 million, paving the way for the latter to consolidate ownership of the development.

The agreement covers Woodside's entire interest in the Sunrise Joint Venture, including Retention Leases NT/RL2 and NT/RL4 and Production Sharing Contracts JPDA 03-19 and JPDA 03-20, the companies announced on October 27.

TIMOR GAP currently holds a 56.56% interest in the joint venture and signed an agreement in September 2026 to acquire Osaka Gas' remaining 10% stake, subject to relevant conditions.

The completion of both acquisitions would give TIMOR GAP full ownership of the Greater Sunrise project, which it plans to develop through a pipeline to Natarbora on the southern coast of Timor-Leste.

This story was originally published by Offshore Engineer. Read the full story at Offshore Engineer →