We are the operator of the Bayu-Undan joint venture project, located in Timor-Leste offshore waters, and together with the other joint venturers – Santos, Inpex, ENI, Tokyo Timor Sea Resources, a consortium of Tokyo Gas and JERA, we have had the privilege of developing the Bayu-Undan petroleum resources with the governments of Timor-Leste and Australia. ConocoPhillips first established an office in Timor-Leste in 2006. Now located in the Timor Plaza Building, the office is managed by our Country Manager, and our local team provide support to our onshore and offshore activities, training and employment programs, and our relationships with local stakeholders. In 2014, the Dili Office expanded its activities to include a local engineering hub for the purposes of continued development of engineering activities in Timor-Leste which also supports the Integrated Operations Support Centre (IOSC) engineering teams.
ConocoPhillips highly values its relationship with Timor-Leste and is proud of the benefits that Bayu-Undan has delivered to the country over the past 16 years.
Bayu-Undan has provided training opportunities and created employment for many Timorese men and women, giving them exposure to a high standard oil and gas working environment both offshore and onshore. Our focus on capacity building and increasing on the job experience has resulted in Timorese progressing into more skilled and professional roles, and a significant increase in the workforce capacity. We also place a high priority on sourcing goods and services from Timor-Leste, which has become more successful as the capacity of work being done in the country has increased. Additionally, we have a community investment program which provides direct benefits to many Timorese communities across the country.
Bayu-Undan has been a very successful project for all stakeholders as the field is entering the final phase of its life cycle. Once the end of economic production is reached for the project, currently projected for to be sometime within the 2021 to 2023, a decommissioning project will take place.