Woodside Energy has finally called time on its troubled Greater Sunrise gas resource in the Timor Sea, striking a $285 million deal with the Timor-Leste government to sell its stake just as its larger Browse gas project off Western Australia has been embroiled in a fresh environmental controversy.
The decision to exit the Sunrise project comes after a more-than 25-year involvement with the resource, which has been the subject of long-lasting disagreements around the development plan as well as lengthy talks between Australia and Timor-Leste on a revenue sharing agreement.
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