Anglo-Dutch supermajor Shell has agreed a deal to sell its 26.56% interest in the Greater Sunrise project in Timor-Leste back to the government in a US$300 million deal.
The move comes after the Timor-Leste government, which is hoping to develop Greater Sunrise itself, last month acquired a 30% share in Sunrise from ConocoPhillips of the US.
The latest deal includes Shell’s permits NT/RL2 and NT/RL4 within Australian waters and production sharing contracts 03-19 and 03-20 within Timor-Leste waters.
