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East Timor Minister says gas project to reap billions
East Timor's Chief Minister Mari Alkatiri says his country will reap billions of dollars from a proposed deal with the energy giant Phillips Petroleum over a Timor Sea gas project.
Phillips hopes the deal will be finalised by East Timor's Independence Day on May the 20th, allowing the development of the Bayu-Undan gas field between East Timor and Australia.
Under the arrangement, Phillips will develop infrastructure such as an airport at Baucau, and provide community health training in East Timor.
Mari Alkatiri says nothing has been signed, but East Timor is very optimistic the arrangement will go ahead, claiming it could deliver more than seven billion dollars over a 20 year period.
25/12/01 9:41:50 | ABC Radio Australia News
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