Woodside: We Can't Wait Any Longer!

Australian oil and gas company Woodside Petroleum said the Greater Sunrise gas project in the Timor Sea could be delayed for years if the company is not given the green light by the end of December.

The Republic of East Timor is yet to ratify an agreement on revenue sharing from the Greater Sunrise project and the next round of talks is due in September.

The Federal Opposition has promised to restart the negotiations from scratch if it wins government. Woodside CEO said that the company can not wait much longer for a resolution.