ConcoPhillips concludes sale of holdings in Timor Sea


ConocoPhillips says it’s wrapped up its $350 million sale of its holdings in the Timor Sea.

The government of Timor-Leste bought the firm’s 30 percent interest in the Greater Sunrise Fields.

“We are pleased to complete this transaction with the government of Timor-Leste,” said Matt Fox, executive vice president and chief operating officer. “ConocoPhillips recognizes the importance of the Greater Sunrise Fields to the nation of Timor-Leste, and this sale gives them a significant working interest in this important development.”

The Sunrise and Troubadour gas and condensate fields, collectively known as the Greater Sunrise Fields, are located in the Timor Sea.

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