Hydrocarbon Reserves
Beneath the Timor Sea lie considerable reserves of oil and gas. A number of offshore petroleum projects are in operation and there is considerable exploration activity either underway and numerous proposed projects. A gas pipeline crosses the Timor Sea from the Joint Petroleum Development Area to Wickham Point near Darwin.
The Timor Sea was the location for Australia's largest oil spill when the Montara oil field leaked oil, natural gas and condensate from 21 August to 3 November 2009. During the spill 400 barrels of oil leaked each day. The Montara Commission of Inquiry placed blame on the Thai company PTTEP, owner of the wells.
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Famous quotes containing the word reserves:
“...I want to see a film, they send the Israeli army reserves to escort me! What kind of life is this?”
—Golda Meir (1898–1978)