EXPLORATION

Timor block terminated

TIMOR-Leste and Australian regulators have formally terminated the JPDA 06-103 production sharing contract in the Timor Sea, leaving Australian oilers Pan Pacific Petroleum and Oilex in breach of their obligations and facing an uncertain financial liability.

Haydn Black

Yesterday, the Autoridade Nacional do Petroleo - in its capacity as the designated authority of the Joint Petroleum Development Area - issued the notice of termination with the approval of the Joint Commissioners...

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