The National Petroleum Authority (ANP) issued a statement saying its decision had the approval of the Joint Commissioners for Australia and Timor-Leste.
The notice of termination followed on from a notice of intention to terminate that was issued to the joint venture on 13 May 2015.
"The termination of PSC JPDA 06-103 is a consequence of the contractor's breach of the terms of the PSC, including but not limited to, the contractor's failure to meet its minimum exploration work program commitments under the PSC," said the ANP.
Termination
