East Timor is therefore set to gain a 50% share in the proceeds from the
Sunrise fields, once they are developed, as opposed to the 18.1% share that it
would have gained under the terms of the TST and Sunrise IUA. Precise
figures for the ‘extra’ revenues that this represents are difficult to ascertain
with clarity, not least because of the volatility of oil prices, as well as frequent
uncertainty in reports as to the basis for comparisons.
Regardless of the pre-cise figure, there is no doubt that, once CMATS is ratified and Greater Sunrise
developed, it will prove to be a substantial one and likely to represent a
significant additional income stream for both States, but most especially for
East Timor.