Timor-Leste Bonaparte exploration basin

The Timor Leste Bonaparte Basin is located in the Timor Sea, approximately 400 km northwest of Darwin, Australia and 100 km south of Timor Leste. Water depths vary from 100 to over 2,000 metres. Until recently, this area was known as the JPDA as a result of a long-running border dispute between Timor Leste and Australia. In August 2019, the two countries resolved the dispute by signing the Maritime Boundary Treaty, which involved the redrawing of their border and the abolition of the JPDA. A new licensing round was launched promptly thereafter. Explorers have historically focused on gas targets, but there are significant volumes of undeveloped gas in the area, so exploration in the near and mid-term is expected to focus on oil. This report provides a detailed analysis of exploration in this basin, including discovery and development costs, location maps, information about licensing and fiscal terms, evaluation of prospective resource volume and value potential.