ConocoPhillips holds a significant acreage position in the Timor Sea Joint Petroleum Development Area (JPDA) between Timor-Leste and Australia, the site of the company's major Bayu-Undan development. The Bayu-Undan Offshore facility located in the Timor Sea sends gas, via a 502 kilometre subsea pipeline, to the Darwin Liquefied Natural Gas (LNG) plant to be converted to LNG for export to Japan.

The company’s exploration and development projects include Greater Sunrise, Browse Basin, Caldita and Barossa Fields, located offshore Northern Territory and Western Australia. In addition, the Australian Business Unit's future focus is to add to the company's long-term Australian natural gas business through coal seam gas production and liquefied natural gas processing and sales.