Asia home page | Asia Breaking News

EAST TIMOR: EMERGING NATION

News» In Focus» On Location» Key Players» Political Parties» Out of the ashes» Chronology» Text only version» Opinion» The People Speak» Links»

New Timor Sea gas deal

After months of delays, the oil and gas producer Phillips Petroleum has reached an agreement with East Timor on Timor Sea gas resources.

In July, Phillips and its co-venture partners indefinitely delayed its plan to build a gas pipeline from the Bayu-Undan gas field to Darwin, citing concerns with East Timor's tax regime.

But in a statement released today, the company says East Timor's Council of Ministers has offered a tax package which will allow the gas development to go ahead.

A Phillips spokesman says the company is waiting on Australia to ratify the agreement with East Timor.

The project is worth one-point-five billion dollars.

21/12/2001 7:22:30 PM | ABC Radio Australia News

More Asia Breaking News 22/01/2002 1:28:53 PM Australian soldiers destroy weapons caches belonging to Taliban 22/01/2002 1:28:44 PM Renewed concerns that internal conflict could hamper relief 22/01/2002 1:28:51 PM Internal security situation big challenge in Afghanistan 22/01/2002 1:28:24 PM Indonesian investigators find crashed plane's black box 22/01/2002 1:28:16 PM UN recommends renewing mission in East Timor 22/01/2002 10:35:25 AM Landmine clearance major focus of international donor conference

Back

Related Stories

21/12/2001 8:52:01 PM
Timor gas deal signed

18/12/2001 12:23:45 PM
Portugal pledges 175-million-dollars to East Timor

17/12/2001 6:20:32 PM
NZ extends military peacekeeping presence in East Timor

15/12/2001 9:10:44 AM
Special human rights commission for East Timor

Related Sites

Radio Australia - Asia Pacific
In depth coverage of major events across Asia and the Pacific. Asia Pacific brings you the opinions of the people who matter.

World News from Radio Australia
News across Asia, the Pacific and beyond.