Woodside Still Contending Against East Timor

Australian oil and gas producer Woodside Petroleum may cancel its development plans for the $5 billion Greater Sunrise gas projects in Timor Sea, if the dispute of East Timor maritime boundaries is not resolved this year.
The East Timorese Government has yet to ratify an agreement on sharing the revenue from the Greater Sunrise project between Australia and East Timor. The two countries plan to continue negotiations in September.
Woodside Petroleum spokesman has confirmed they have told the East Timorese that a failure to resolve the impasse over maritime boundaries would leave the project partners with no choice but to abandon further development.
The Opposition and the Government are blaming each other for jeopardising the project, which is vital to East Timor's economic future.