Joint Statement with Timor-Leste Minister for Petroleum and Mineral Resources His Excellency Francisco da Costa Monteiro

On Tuesday 23 January 2024, the Australian Minister for Resources and Northern Australia, the Hon Madeleine King MP, and Timor-Leste's Minister for Petroleum and Mineral Resources, His Excellency Francisco da Costa Monteiro, met in Canberra.

The Ministers discussed Australia and Timor-Leste’s close cooperation on and strong support for Carbon Capture and Storage (CCS) projects, including the Bayu-Undan CCS project.

The Ministers committed to cooperating on the necessary legal and regulatory frameworks to facilitate the movement of CO2 between the two countries to enable the storage of CO2 in reservoirs under the sea.

The Ministers reiterated their support for the ongoing talks between their officials and the Sunrise Joint Venture on finalising the Petroleum Mining Code; Fiscal Regime; and Production Sharing Contracts for Greater Sunrise project.

The Ministers continued their commitment to the mutually beneficial and commercially viable development of the Greater Sunrise project.