Timor Gap takes over Woodside's Timor Sea gas project in $200m deal

· Energy · Timor-Leste · Australia

Timor Gap is taking over the reins of an offshore gas project in the Timor Sea from Woodside under a $200 million deal, with completion of the takeover anticipated in the first half of 2027. The transaction hands operatorship of the project to Timor Gap, the company tied to Timor-Leste's state interests, moving a long-standing offshore development from an international major to a national operator. The deal shifts who controls the project's next phase and reflects the growing role of national entities in the region's upstream gas sector.

Why it matters：The transfer of operatorship to a national entity shows how smaller state-linked players are taking over mature offshore assets as majors rebalance portfolios.

Key points

  • The deal is valued at $200 million
  • Completion is anticipated in the first half of 2027
  • Woodside is handing over the offshore gas project in the Timor Sea

Sources (original reporting)

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