Bob Carr (NSW, Australian Labor Party, Minister for Foreign Affairs) Share this | Hansard source

I thank the senator for his question. This is an important issue that we are taking forward in the context of the positive and cooperative relationship we enjoy with the government of Timor-Leste. Australia and Timor-Leste have been engaged in detailed and complex negotiations for some time on the options for the development of the Greater Sunrise oil and gas field. They are discussions that involve the two governments as well as the joint venture formed to develop the field, which is led by Woodside. This is a valuable resource that, properly developed, will deliver significant benefits to both Timor-Leste and Australia. It is important we get it right. Negotiations are not yet at a point where a development plan has been agreed, but they have made important progress. Agreement was reached by the Sunrise Commission late last year to conduct an independent reserve estimate study, which is underway now. Detailed discussions have been held between experts of the two governments and the joint venture on the complex legal, technical, commercial and political issues involved. Australia has not yet come to a final position on its preferred development concept. More work needs to be done before we get to that point, and this work is underway. But we are strongly committed to working with Timor-Leste to enable the development of the Greater Sunrise resource to the benefit of both countries.