Among the tax disputes that the pair have settled are issues related to the Bayu-Undan decommissioning plan, the drilling of Firebird-1 well in the Timor Sea and the Capacity Reserve Charge. The disputes involve operations in the joint petroleum development area (JPDA) that Timor-Leste shares with Australia.
The terms of the settlements have not, however, been disclosed.
However, the US giant said it and the government were “unable to reach an agreement regarding the pipeline withholding tax and have agreed to leave the matter with the Singapore International Arbitration Centre constituted Tribunal”.
ConocoPhillips
